Remarks made at monetary policy press conference

Bank of Korea Governor Shin Hyun-song presides over a Monetary Policy Board meeting at the Bank of Korea in Jung-gu, Seoul, on Thursday. [Yonhap]
Bank of Korea Governor Shin Hyun-song presides over a Monetary Policy Board meeting at the Bank of Korea in Jung-gu, Seoul, on Thursday. [Yonhap]

Bank of Korea Governor Shin Hyun-song said Thursday that inflation is expected to reach the central bank's target level in 2028.

Shin made the remarks at a monetary policy press conference Thursday morning, saying the bank's August forecast had put next year's core inflation at 2.5 percent, but that the figure now appears likely to come in higher.

"Our target is 2 percent," Shin said. "The principle is to achieve that through monetary policy while taking into account growth and other conditions, rather than treating it as something that must be met immediately."

He added that inflation is expected to remain above the target next year before returning to the target level in 2028.


kimstar@heraldcorp.com