Iran-Oman Near Strait of Hormuz Deal as Shipping Tensions Persist 
RBI Holds Repo Rate at 5.25% as Inflation Risks and Global Uncertainty Persist 
Eurozone Bond Yields Fall as Oil Slump Eases Inflation Fears Ahead of Central Bank Meetings 
Oil Prices Rise as Hormuz Reopening Remains Uncertain 
Gold Price Hits Seven-Week High as Fed Rate Hike Bets Fade and Hormuz Deal Hopes Grow 
BOJ Holds Rates at 1% as Inflation Outlook Eases, October Rate Hike Still Possible 
Japan Posts First Current Account Deficit in 17 Months as Dividend Payments Surge 
Chile Central Bank Holds Interest Rate at 4.5% as Inflation and Global Risks Persist 
Fed Holds Interest Rates Steady as Kevin Warsh Says Rising Treasury Yields Tighten Financial Conditions 
US Yen Intervention Unlikely to Deliver Lasting Recovery, Yardeni Says 
China Exports Beat July Forecasts as AI Demand Fuels High-Tech Trade 
Trump Unveils $3 Billion U.S. Critical Minerals Push 
South Korea's incoming Bank of Korea (BOK) Governor nominee Shin Hyun-song has hinted at a possible shift toward tighter monetary policy, warning that prolonged supply-side shocks stemming from the ongoing Middle East conflict could force the central bank to act on rising inflation.
Speaking at a parliamentary confirmation hearing in Seoul on Wednesday, Shin acknowledged growing economic pressure on Asia's fourth-largest economy, stating that the unresolved Iran war crisis is expected to sustain inflationary pressure well into the near term. "A significant test is coming," he told lawmakers, noting that if price pressures persist, they risk feeding into inflation expectations, core inflation, and ultimately broader price instability — a scenario that would demand a monetary policy response.
When pressed on whether he views inflation as a greater threat than slowing growth, Shin reaffirmed that price stability remains the central bank's top priority. He cautioned that surging import costs are likely to accelerate inflation, complicating an already fragile economic outlook marked by weaker GDP performance and elevated consumer prices.
The remarks represent a notable shift in tone from South Korea's monetary authority. The BOK held its benchmark interest rate steady at 2.50% during its April 10 meeting — the final policy decision under outgoing Governor Rhee Chang-yong, whose term concludes on April 20. Markets will closely watch Shin's leadership for any signals of a hawkish pivot in the months ahead.
Adding to his forward guidance, Shin also reversed his previously neutral position on currency policy, explicitly warning against excessive weakening of the South Korean won and pledging direct market intervention should exchange rate volatility escalate beyond acceptable levels. The combined stance on both inflation and the won signals a more assertive approach to macroeconomic management under Shin's anticipated leadership.
