January 2, 2018 / 1:25 AM / a year ago

S.Korea c.bank gov: Decision on further tightening shouldn't be linked to term-end

SEOUL, Jan 2 (Reuters) - South Korea’s central bank chief on Tuesday said a decision on any further monetary policy tightening should not be related to the coming end of his term.

“As I said earlier I asked not to relate the timing of my term ending with policy interest rate hikes,” Bank of Korea Governor Lee Ju-yeol told reporters in Seoul.

He added the bank’s decision to raise interest rates for the first time in six years in November was done at an “optimal timing”. given the strong growth momentum in October.

Any further interest rate adjustment will come only after carefully considering trends of economic data and the growth path, Lee added.

Lee’s four-year term ends on March 31.

When the BOK raised interest rates in November to 1.50 percent, it tempered market expectations for further hikes by raising concerns about the job market and other uncertainties. (Reporting by Cynthia Kim, Seunggyu Lim; Editing by Richard Borsuk)

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