The think-tank often conducts research for the government but rarely gives specific policy suggestions. Market participants tend to read policy advice from the KDI as the views of the finance ministry.
The Bank of Korea, which is independent from the government, held interest rates steady for a fourth straight meeting last month, but said it would maintain a tight stance amid still high prices and kept the door open for further tightening.On growth, KDI kept its forecast unchanged at 1.5 percent for this year, higher than the government and the central bank’s 1.4 percent. In the second half, stronger exports would likely offset weaker consumer spending, it said.
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