Opening address
· Chang Yong Rhee, Governor of the Bank of Korea (South Korea)
Summary written by Dark Majestic in its own words · topics: inflation and price stability
CY · Chang Yong Rhee Wiki · Bank of Korea WikiOpening addressContextOpening address by Chang Yong Rhee, Governor of the Bank of Korea, at the Bank of Korea's International Conference 2022, Seoul, 2 June 2022.
Why it mattersRhee asks how central banks should respond to 1970s-style inflation.
Problems raised- 1970s-style inflation returned.
- Expansionary policies and supply bottlenecks drive it.
- Central banks' role must be rethought.
Solutions proposed- Rethink the role of central banks.
- Host international conferences.
- Adapt to new inflation environment.
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