South Korean President Moon Jae-in said in a statement on Tuesday, his government needs to focus on stabilizing consumer prices.

His comments come after the Bank of Korea (BOK) kept the key rates unchanged at 0.75% after the August rate hike.

The central bank said that the country’s inflation is expected to run at the mid-2% level this year, adding that they will monitor growth and inflation.

Market reaction

USD/KRW sits at 15-month tops at 1,200.55 on BOK’s status-quo, benefiting from the advance in the US dollar amid the risk-off mood.