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Bluffs and confrontations over Korea’s exit strategy

Moon So-young Joongang Daily
Yoon Jeung-hyun

Yoon Jeung-hyun

The hot issue lately is when exactly Korea should end its extraordinary support for an economy battered by the global financial crisis - especially with production, employment and consumer confidence all improving.

Adding to the controversy about a so-called “exit strategy,” Bank of Korea Governor Lee Seong-tae and Finance Minister Yoon Jeung-hyun apparently disagree on when to raise the key interest rate.

Lee said after the central bank’s monetary policy committee meeting Thursday, “The current monetary easing is quite strong.” He expressed serious concerns about the rises in mortgages and home prices in some regions, while reassuring reporters that consumer inflation would stabilize at 2 to 3 percent on-year.


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