Indeed, since the October meeting, the current korea telegram data inflationary pressure has increased. Plus, the exchange rate factor has been added. At first glance, the situation is very similar to what it was before the October decision. But unlike October, when, in fact, all factors were in one direction, this time we saw factors that could potentially produce significant disinflationary effects in the coming months. These factors, starting from the second half of November, have become increasingly evident.
I mean a much more significant increase
Interest rates on bank loans and deposits than our October decision suggested, as well as a sharper slowdown in credit activity, in particular the slowdown in corporate lending. The factor of credit growth in the last six months has always been at the forefront of the arguments for our decisions. Since credit, like the budget impulse, is one of the key drivers of increased demand in the last 2.5 years, and, accordingly, high inflationary pressure.
Now, perhaps, a reversal has occurred
— Wouldn’t it be worth highlighting the slowdown in lending and rising interest rates more clearly?
— As soon as we had operational data on content date update with no real changes lending in November, we immediately published it in the information and analytical material closest in date of publication (referring to the analytical review “Monetary conditions and the transmission america email mechanism of the monetary policy”, published on December 10, shortly before the start of the “week of silence” — IF) . By the way, we have not done this before.