Lee Chang-yong "will stabilize at inflation target level"

[Anchor]
Governor Lee Chang-yong held a press conference to explain why the Bank of Korea's Monetary Policy Committee cut its benchmark interest rate.

Let's listen to it for ourselves.

[Lee Chang-yong / Governor of the Bank of Korea: First of all, the need to ease the tightening by cutting interest rates has increased as inflation has strengthened monetary tightening in terms of real interest rates and uncertainties in growth prospects have increased. On the other hand, in terms of financial stability, as household debt measures began to take effect, the government said it would implement additional measures if necessary, and the U.S. Federal Reserve shifted its policy stance, easing the burden on the foreign exchange sector. Therefore, it is appropriate to cut the base rate by 25 basis points today and check its impact and internal and external policy conditions.]