Bank of Korea’s (BOK) Senior Deputy Governor Lee Seung-heon said on Monday that the upcoming rate decision meeting will be difficult due to higher inflationary risks and downward pressure on growth.

The South Korean central bank policymaker said that a “thorough analysis on rising commodity prices and its impact on local economy crucial.”

The BOK will meet on April 14 to decide on its bank’s current base rate of 1.25%, as of now.

Market reaction

The Korean won (KRW) remains firmer on the session, despite the cautious comments from the BOK official. At the press time, USD/KRW is trading at 1,217.44, down 0.19% on the day, snapping a three-day uptrend.