Choongsoo Kim: The challenges ahead for the Bank of Korea in 2010 Inaugural address by Mr Choongsoo Kim, Governor of the Bank of Korea, on the opening up of a new chapter of the Bank of Korea commensurate with its role as the central bank of the chair country of the G20, Seoul, 1 April 2010. The following is an unofficial English translation.
The other example refers to the cut in rates decided in May 2001 when headline inflation was above 3 per cent but the world economy seemed to be on the brink of recession and there were no risks for medium term inflation. This flexible approach was appropriate in both cases and was validated by subsequent events.