April 20, 2024
Economy
BOK to maintain monetary easing policy
[THE INVESTOR] South Korea’s central bank said on March 30 that it will maintain the current monetary easing policy to support growth.
The Bank of Korea has left its key rate unchanged at an all-time low of 1.25 percent since June when it made a surprise rate cut to bolster Asia’s fourth-biggest economy.
“We will maintain the stance of monetary policy accommodation as the inflationary pressures are not expected to be high given the moderate pace of domestic economic growth,” the BOK said in a report submitted to the National Assembly earlier in the day.
The central bank also said it will take into account South Korea‘s macroeconomic conditions and financial stability in conducting a monetary policy, though it said a US rate hike is one of the key considerations.
The bank also said in the report that South Korea will take measures to stabilize markets in case of any drastic volatility due to foreign capital outflows.
By Alex Lee and newswires (alexlee@heraldcorp.com)
The Bank of Korea has left its key rate unchanged at an all-time low of 1.25 percent since June when it made a surprise rate cut to bolster Asia’s fourth-biggest economy.
“We will maintain the stance of monetary policy accommodation as the inflationary pressures are not expected to be high given the moderate pace of domestic economic growth,” the BOK said in a report submitted to the National Assembly earlier in the day.
The central bank also said it will take into account South Korea‘s macroeconomic conditions and financial stability in conducting a monetary policy, though it said a US rate hike is one of the key considerations.
The bank also said in the report that South Korea will take measures to stabilize markets in case of any drastic volatility due to foreign capital outflows.
By Alex Lee and newswires (alexlee@heraldcorp.com)
