.
Quick summary of BoK Lee remarks during press.
- Not reading too much into the specific fx lvl.
- FX fluctuation shd not be attributed to our issue only like the past.
- 1 for 3.5 vs 5 leaves the door open for 3.75 among MPC members.
- There are different opinions on inflation path among MPC members.
- No rate hike is needed if inflation moves in path we expect.
- Considerable time from MPC stmt doesn't point to 6M ( In the past, it points to 6m). We need confidence that inflation returns to 2% target.
- Inflation exp can change according to govt policy for public utility fee in the future.
- 3y & 10y bonds yields can be lower than policy.
-It is no problem to get inflation slow w/ the door open for additional rate hike. Rate hike is possible if inflation path we think changes.
- It's judged that money mkt has somewhat stabilized tks to preemptive measures done by govt and BoK.
- Will not allow big gap bw policy rate and short-term rates via open mkt operation.
- Hv premise that inflation is likely to decline pretty much after Mar. Hving a watch stance is better than rate hike now.
- There was some changes to make us to look domestic factors for policy.
- The door open for our forecast cuz we hv to consider both inflation and Fed policy.
- He feels relief after today's fx move, thinking that fx is more affected by decision of the US.
- When asked abt if he has confidence that the inflation returns to 2% range this yr, He didn't reply.
- Pension funds and some institutions who hv held $ reserves were most Korean bonds sellers in Jan.
- Kor-US rates differential does not mechanically affect fx. And there's not specific fx lvl to respond.
In case you may hv missed.
Quick summary of BoK Lee remarks during press.
- Not reading too much into the specific fx lvl.
- FX fluctuation shd not be attributed to our issue only like the past.
- 1 for 3.5 vs 5 leaves the door open for 3.75 among MPC members.
- There are different opinions on inflation path among MPC members.
- No rate hike is needed if inflation moves in path we expect.
- Considerable time from MPC stmt doesn't point to 6M ( In the past, it points to 6m). We need confidence that inflation returns to 2% target.
- Inflation exp can change according to govt policy for public utility fee in the future.
- 3y & 10y bonds yields can be lower than policy.
-It is no problem to get inflation slow w/ the door open for additional rate hike. Rate hike is possible if inflation path we think changes.
- It's judged that money mkt has somewhat stabilized tks to preemptive measures done by govt and BoK.
- Will not allow big gap bw policy rate and short-term rates via open mkt operation.
- Hv premise that inflation is likely to decline pretty much after Mar. Hving a watch stance is better than rate hike now.
- There was some changes to make us to look domestic factors for policy.
- The door open for our forecast cuz we hv to consider both inflation and Fed policy.
- He feels relief after today's fx move, thinking that fx is more affected by decision of the US.
- When asked abt if he has confidence that the inflation returns to 2% range this yr, He didn't reply.
- Pension funds and some institutions who hv held $ reserves were most Korean bonds sellers in Jan.
- Kor-US rates differential does not mechanically affect fx. And there's not specific fx lvl to respond.
In case you may hv missed.