'Oil Prices to Remain High'
The central bank has forecast that global oil prices will remain over the 100-dollar-a-barrel level in the mid- and long term.
The Bank of Korea (BOK) said in a report Monday that supplies of crude oil are not likely to increase in the short term.
It also said that high oil prices could negatively affect the Korean economy along with financial market instability and the slowdown in the housing market.
The BOK advised the government to develop policies to increase energy efficiency and secure stable energy supplies, while checking inflation and fostering growth.
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