SEOUL :Bank of Korea governor on Tuesday said interest rate differences with the United States are one of many factors affecting exchange rates and that recent won weakness was due to dollar strength rather than domestic rates being held last month.'Foreign exchange rates are now more affected by changing vie
SEOUL :Bank of Korea governor on Tuesday said interest rate differences with the United States are one of many factors affecting exchange rates and that recent won weakness was due to dollar strength rather than domestic rates being held last month.
Rhee said it was too early to discuss rate cuts but that the central bank would start to consider them should the inflation rate fall toward 3 per cent near the end of this year, providing confidence that it is converging to the central bank's 2 per cent target.
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