[뉴스핌NewsPim] 다음은 14일 한국은행이 발표한 '통화정책방향' 영어전문입니다.
The Monetary Policy Committee of the Bank of Korea decided today to leave the Base Rate unchanged at 3.25% for the intermeeting period.
Based on currently available information, the Committee considers that, while emerging market economies have continued to show favorable performances, the recoveries in major advanced economies including the US have exhibited signs of temporarily faltering. Going forward, the Committee forecasts that the global economy will keep up its pace of recovery; nevertheless, the Committee recognizes the possibility of such factors as the sovereign debt problems in Europe and the heightened volatility of economic activity in major countries posing downside risks to the global economy.
For Korea, the Committee judges the economy to have maintained its underlying upward trend, given for instance that exports show robust growth and that domestic demand is increasing modestly. Labor market conditions have also remained on a track of improvement, led by the private sector. Going forward, the Committee anticipates that the domestic economy will keep up this underlying trend, even in the presence of external risks.
Consumer price inflation rose to the 4.4% level in June, due mostly to sharp rises in the prices of some agricultural and livestock products. The Committee expects the high level of inflation to continue in the coming months, driven largely by demand-side pressures resulting from the underlying uptrend in economic activity and by inflation expectations. Core inflation meanwhile increased to the 3.7% level, as the prices of processed food products and personal services continued to rise; this uptrend in core inflation is seen persisting for the time being. As for housing prices, those in Seoul and its surrounding areas have weakened, while their pace of increase in the rest of the country has slowed. The rate of increase in leasehold deposits fell in June compared to the previous month, affected mostly by seasonal factors.
In the financial markets, the ranges of fluctuation of price variables such as interest rates, stock prices and exchange rates have widened, due mainly to the effects of external risk factors including the sovereign debt problems in Europe. Mortgage lending has posted a steady rise.
Looking ahead, the Committee, while taking overall account of financial and economic conditions both at home and abroad, will conduct monetary policy with a greater emphasis on ensuring that the basis for price stability is firmly anchored while the economy continues its sound growth.
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[뉴스핌 Newspim] 안보람 기자 (ggarggar@newspim.com)












