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Contrary to the US media that the UK economy fell into a 'recession' due to the blow to household spending by inflation, Korean securities firms diagnosed it as 'a rebound after the peak of inflation'. The Wall Street Journal reported that the UK economy "heralded a tough economic period expected to contract in the second quarter and plunge into a prolonged recession" as households cut spending ..

Regarding inflation, the Bank of Korea said that it will “continue to rise more than 6% for the time being”, while Deputy Prime Minister Choo Kyung-ho announced the “peak in September and October” respectively. Lee Hwan-seok, Deputy Governor of the Bank of Korea, said, "The rate of increase in the consumer price index has been in the 6% range since June, and it is in line with the expectations o..