Bank Of Korea: Will Strive To Stabilize Inflation In 2012

South Korea's central bank said on Thursday that price
stability will be its top priority in 2012. In a yearly policy
statement, the Bank of Korea said that it shall conduct monetary
policy so as to maintain inflation close to the mid-point of the
target. For 2012, the bank aims to keep inflation between 2 and 4
percent. During 2012, the bank will determine the inflation target
for 2013 and after, in consultation with the government. According
to the assessment of BoK, the uptrend in consumer prices will slow,
but the pace of decline in inflation is expected to be modest due
chiefly to the presence of high inflation expectations. Further,
the bank observed that domestic economic growth will recover in the
second half of the year after showing signs of a mild slowdown.
However, downside risks will be large, stemming from sovereign debt
crisis in Europe and uncertainties concerning North Korea. The
material has been provided by Instaforex Company -
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