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South Korea’s central bank chief says strong growth will keep inflation faster than expected Reuters

© Reuters. FILE PHOTO: Bank of Korea Governor Lee Ju-yeol speaks at a news conference in Seoul, South Korea, on November 30, 2017. REUTERS / Kim Hong-Ji

SEOUL (Reuters) – The head of South Korea’s central bank said on Thursday that the country’s growth momentum remains strong as expected earlier, thanks to improved private consumption and, for the time being, inflation will sooner exceed expectations.

“While exports continue to grow steadily, consumption is improving rapidly thanks to changes in COVID-19 policies and growth trends remain in line with expectations,” Governor Lee Ju-yeol said in statements prepared for a meeting with financial industry experts.

Lee said consumer inflation will continue “faster than expected” for the time being due to global supply hurdles and rising oil prices.

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