Watch This South Korean Hawk’s Answer to the Oil Shock |
Laying down the law on inflation won't depend just on Jerome Powell, in his last months as chair of the Federal Reserve, nor European Central Bank President Christine Lagarde, in the home stretch of her term. As their eras draw to a close, the best guide could be the next governor of South Korea’s central bank who is making his way home — with modestly hawkish credentials.
Hyun Song Shin, most recently an executive at the Bank for International Settlements who has enjoyed a storied academic career, will take up the post in April. Appointed by President Lee Jae Myung this week, he is the first monetary chief to be installed in a Group of 20 economy since the Iran war sent energy prices soaring. After dispensing advice from the corridors of BIS, a club for central banks, he will finally oversee a national authority. It’s a delicate time for a transition.