Bank of Korea Governor Shin told a parliamentary committee the central bank sees
a need to tighten monetary policy as semiconductor-led growth continues to
support the economy. He said a rate hike should come "at an appropriate time"
and that timing will depend on the degree of inflationary pressure, the pace of
the recovery and financial stability. Shin expects demand from the recovery to
offset downward pressure from lower global oil prices and said consumer
inflation will remain above target. The next BoK policy meeting is July 16.
