Key facts
- The Bank of Korea Governor pledged proactive efforts to curb inflation.
- The Bank of Korea aims to stabilize prices towards its target level.
- Elevated consumer prices are expected to persist due to global energy market volatility and domestic economic recovery.
- Russian household inflation expectations decreased in June.
- Russian household inflation expectations fell to 12.4% in June.
- Russian household inflation expectations were 13.0% in May.
- Household inflation expectations are a key factor in Russia's central bank's monetary policy decisions.
The Governor of the Bank of Korea (BOK), Shin Hyun-song, has announced the central bank's commitment to actively curb inflation. The BOK will continue these efforts until there is confidence that prices are stabilizing and moving towards the target level. Elevated consumer prices are expected to persist in the near future, influenced by ongoing volatility in global energy markets and the ongoing domestic economic recovery.
In a separate development concerning inflation expectations, Russia's central bank has reported a decline in household inflation expectations. For June, these expectations fell to 12.4%, a decrease from the 13.0% recorded in May. This data point is considered a key factor by the Russian central bank when formulating its monetary policy decisions.