Opening address - Bank of Korea-Centre for Economic Policy Research-Organisation for Economic Co-operation and Development Conference
What changed vs prior statement
- 01No material change in policy stance vs prior statement.
- 02Language essentially preserved across key paragraphs discussing economic outlook.
- 03Vote split: No vote-record change.
From the original
Speech by Mr Hyun Song Shin, Governor of the Bank of Korea, at the Bank of Korea (BOK)-Centre for Economic Policy Research (CEPR)-Organisation for Economic Co-operation and Development (OECD) Conference, Seoul, 2 September 2026.
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Chang Yong Rhee: Farewell address
The desk interprets Chang Yong Rhee's farewell address as a pivotal moment for the Bank of Korea, signaling potential shifts in monetary policy direction. Per the full note [source], Rhee emphasized the importance of maintaining economic stability while navigating global uncertainties, which may hint at a more cautious approach moving forward. This aligns with our view that the Korean won could face pressures amid a changing global landscape. As we assess the implications of this transition, the consensus target remains at 1.075, with a range reflecting divergent views among major firms.