· Chang Yong Rhee Wiki · Bank of Korea WikiReview on Inflation Targeting Operations
Read full speech on bis.org ↗ContextKeynote speech by Chang Yong Rhee, Governor of the Bank of Korea, at the press conference after "Review on Inflation Targeting Operations", Seoul, 20 December 2022.
Why it mattersRhee reviews how the inflation target worked during a year of hikes.
Problems raised
- Inflation is well above target.
- Rate hikes impose costs on the public.
- Understanding of inflation is needed.
Solutions proposed
- Review inflation targeting operations.
- Explain to the public.
- Continue tightening.