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Deputy Governor Kwon Min-soo "Will monitor market situation with special vigilance"
The Bank of Korea (BOK) stated on the 17th that "the future monetary policy stance of the U.S. Federal Reserve (Fed) is expected to be tight."
Deputy Governor Kwon Min-soo of the BOK said this at a market situation review meeting held at the BOK this morning, stating, "Last night, the Fed raised interest rates for the first time in about three years since July 2023, and Fed Chairman Kevin Warsh emphasized his commitment to price stability and hinted at the possibility of further rate hikes."
He diagnosed, "External risk factors such as the evolving situation of the Middle East war, international oil price trends, concerns over fiscal soundness in major countries, and uncertainties related to the artificial intelligence (AI) industry continue to exist."
He added, "As monetary policy decisions by major countries such as Japan and the UK are also scheduled this week, we will continue to monitor the domestic financial and foreign exchange market situation closely with special vigilance."
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