The Group of 20 leading economies will likely continue to discuss whether to set current account targets in the November summit in South Korea, South Korean finance minister Yoon Jeung-hyun said on Thursday. “We are neutral on the proposal of setting current account targets.”
Yoon appeared to strike a neutral balance on whether South Korea’s central bank should hike rates at its November meeting.
“There are some who support interest rate rises and others who do not. In light of prices and inflation concerns, it looks necessary to raise interest rates.”
“On the other hand, as household debt is large and we need to grow more, it is not now time to raise interest rates. There are such views,” he said.