SEOUL, Jan 3 (Reuters) – South Korea’s central bank governor on Tuesday said the bank would do its best to ensure a soft landing for the economy amid significant internal and external uncertainties.
“The Bank of Korea, together with the government, will do its best to implement sophisticated policy measures to achieve a soft landing of South Korea’s economy during this period of clouded visibility due to significant external and internal uncertainties,” Gov. Rhee Chang-said Yong speaking at a New Year event.
Rhee said the central bank will pay attention to growth and changes in financial and foreign exchange markets while continuing to adjust its monetary stance to stabilize prices.
The Bank of Korea (BOK) will hold its first rate decision meeting of the year on Jan. 13 after raising interest rates by 275 basis points to 3.25% since August 2021.
The BOK will proactively take market stabilization measures as needed through close communication and collaboration with relevant authorities, Rhee said at the gathering of government officials, lawmakers and representatives of financial firms and regulators.
Reporting by Jihoon Lee; Editing by Christopher Cushing
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