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The Bank of Korea (BOK) stated on the 30th regarding the results of the US Federal Reserve's (Fed) Federal Open Market Committee (FOMC) meeting, "Uncertainty related to the US Fed's monetary policy, the situation in the Middle East, etc., has expanded."
Park Jong-woo, BOK Senior Deputy Governor, presided over a 'Market Situation Review Meeting' at the BOK this morning and stated, "In the press conference after this FOMC, Fed Chairman Kevin Warsh expressed his commitment to price stability, but did not deliver specific signals regarding future policy direction."
Senior Deputy Governor Park added, "Accordingly, in the financial market, uncertainty regarding the future operation of the Fed's monetary policy and the direction of inflation was assessed to have increased, leading to a significant rise in long-term interest rates."
He further stated, "We will continue to monitor the unfolding patterns of domestic and external risk factors and their impact on the domestic financial and economic situation with special vigilance."
At this FOMC meeting, the Fed froze the policy rate at 3.50-3.75% annually as expected by the market, but 3 out of 12 committee members voted for a rate hike.
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