Korea could face short-term financial shock over high inflation: poll

• Published date: 30 May 2022
• Publication title: The Korea Times

Korea faces a greater chance of shocks that could cause a short-term crisis to the financial system than six months ago due mainly to high inflation, a central bank poll showed Monday.According to the semiannual survey by the Bank of Korea (BOK), 26.9 percent of 80 experts at home and abroad said the possibility of the country experiencing "shocks that could cause a crisis in the financial system" within a year or so remains high or very high.

It has more than doubled from six months earlier when 12.5 percent of the polled said the same thing.But the rate of the respondents who expected such risks in one to three years inched down to 32.9 percent from 36.1 percent.

Some 96.2 percent also expected the country's financial system to be stable over the next three years.The experts pointed to high inflation as the No.

1 risk factor, with 34.2 percent citing it as a primary concern.Some 15.2...