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Korean President Switches Focus To Inflation Fight
来源:The Wall Street Journal
 
作者:
2008-03-25
标题译文:韩国总统将工作重点转向抑制通膨
The administration of Lee Myung-bak, South Korea's new president, tamped down a potential conflict with the Bank of Korea by declaring that the country's top economic priority is fighting inflation.

In a joint interview with four newspapers over the weekend, Mr. Lee said taming inflation is the 'most urgent policy.'

Mr. Lee was elected in December and took office Feb. 25. Until now, his economic priority had appeared to be hitting a target of 6% growth in the country's gross domestic product this year. At a news conference Monday, Kim Kyu Ok, spokesman for the Ministry of Strategy and Finance, said the government isn't backing down from that target but would focus on inflation.

The emphasis on growth appeared to conflict with the Bank of Korea's hawkish stance on inflation.

Twice last year, the central bank raised interest rates, even though there were few signs of inflation. Still, from December to February, South Korea experienced inflation at monthly rates that exceeded the bank's target range of 2.5% to 3.5%.

One result of the president's comments was that South Korea's won strengthened nearly 1% against the dollar Monday. The won is one of the few currencies in the world to lose ground against the U.S. dollar in recent months. Last week, the Bank of Korea sold dollars to bring some stability to the won, according to traders.

Evan Ramstad


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