© Stocksak. FILE PHOTO. South Korea’s new central banking governor Rhee Changyong stands beside his staff members during the inauguration ceremony in Seoul (South Korea), April 21, 2022. SeongJoon Cho/Pool via REUTERS
SEOUL (Stocksak), South Korea’s central banking institution, the Bank of Korea should continue efforts to prioritise inflation control despite the fact that it faces a tradeoff between growth and inflation, a senior official of International Monetary Fund stated Tuesday.
Krishna Srinivasan is the director of the bank’s Asia and Pacific branch. He said that failure to tackle inflation first could lead towards worsening inflationary pressure and ultimately, hurt growth.