South Korea's Central Bank Governor Says No Need for Rate Cuts, Impact of AI Boom on Neutral Rate to Be Observed

The Governor of the Bank of Korea stated that it remains to be seen whether the AI boom will push up the policy neutral rate. The growth of artificial intelligence has surpassed the drag caused by the oil shock, but risks still exist. The South Korean economy is at the intersection of an AI boom and energy shocks. There is currently no need for rate cuts. The Korean won is expected to appreciate further. The inflation rate is projected to be 2.2% this year and will decrease next year.

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