South Korea central bank chief: expects H2 inflation at 2.8pc

ABU DHABI: South Korean central bank governor Kim Choong-soo said on Wednesday that he expected inflation of 2.8 percent in the second half of this year.

"For the second half, we expect that inflation will grow by 2.8 percent," Kim told reporters on the sidelines of a financial conference in Abu Dhabi.

Consumer price inflation in February eased to a four-month low of 1.0 percent from 1.1 percent in January, compared with the central bank's target band of 2.5-3.5 percent.

Kim, whose term ends this month, acknowledged that inflation was so far not picking up to enter the target range. "Our forecast for Q1 was 1.3 percent.

So it's lower than the lower bar of inflation targeting." He did not say how the rate might be moved into the band.