Bank of Korea (BOK) Gov. nominee Shin Hyun-song suggested that Korea’s benchmark interest rate is currently around the midpoint of the neutral range, according to an opposition lawmaker on Sunday. The remarks imply that, under his leadership, the central bank is likely to maintain its pause in rate adjustments for the time being, adopting a measured approach that considers both inflation and growth rather than pursuing abrupt policy shifts. In a written response to an inquiry from Rep. Chun Ha-ram of the minor Reform Party, Shin said the current policy rate of 2.5 percent “lies near the middle of the neutral rate range estimated by the BOK using a range of models.” The neutral rate is generally understood as the theoretical level of interest that neither fuels inflation nor constrains economic growth, and is typically derived through model-based analysis. Shin, who served as the head of the monetary and economic department at the Bank for International Settlements, had been widely viewed as leaning hawkish, largely due to his prior emphasis on financial stability and proactive infl
BOK governor nominee signals prolonged rate pause as policy seen near neutral level
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