accumulation of household debt. Therefore, the MPC viewed that the current accommodative monetary policy stance remained appropriate as it would contribute to the continuation of economic growth and correspond
previous quarter. The Monetary Policy Committee (MPC) decided to keep the policy interest rate unchanged at 1.50 percent as it considered that the current accommodative monetary policy stance remained
interest rate unchanged at 1.50 percent as it viewed that the current accommodative policy stance is still needed to strengthen the continuation of growth in domestic demand and support the rise of headline
parts. The prospect of lower oil prices is likely to push down headline inflation in 2019, while core inflation is expected to be stable, reflecting more modest growth in private consumption. It is likely
-based growth in household purchasing power. At the same time, inflation remains subdued though it is expected to slowly rise. In this regard, the MPC judged that accommodative monetary policy stance would
from 1.0 percent in 2019. Private consumption will likely remain subdued from the elevated household debt. Fiscal stimulus, an accommodative monetary stance and clarity in the government’s implementation
several Asian central banks gradually signaled a more accommodative stance while also cutting their policy rates. Such moves were meant to forestall downside risks amid global economic headwinds while also
recovery coupled with high oil prices since early this year may put more pressure on inflation. Against this backdrop, central banks worldwide are highly likely to adopt a more tightening stance, especially
previous forecast of 3.9 percent. Regarding monetary policy of central banks worldwide, the US Federal Reserve maintained its tightening stance by raising its policy rate and continuing to reduce its massive
, whereas the European Central Bank and the Bank of Japan may opt for tapering of their quantitative easing stance. Against this backdrop, interest rates in several countries are likely to be on an upward