In the new year, South Korea’s central bank
is going to keep its inflation target at two percent, where it’s been since 2016. The Bank of Korea’s inflation target is set
based on changes in the consumer price index. Officials say… two percent is not only considered
the optimal rate of inflation for the South Korean economy…., but is also on par with
many of the world’s other major central banks, like the U.S. Federal Reserve. The BOK also pointed out that it did not specify
an exact timeline this time… because inflation has been steady over the last ten years. South Korea’s consumer price index rose two
percent in November, on par with the central bank’s target for the second month in a row.