SEJONG, Dec. 14 (Yonhap) — Finance Minister Choo Kyung-ho said Thursday that the government will continue to make efforts to stabilize financial markets, citing high interest rates, housing financing fears and global economic uncertainties.
Choo made the comments at a meeting with financial agency leaders after the Federal Reserve kept interest rates stable for the third straight day and announced at least three rate cuts next year.
“Recently, the local financial market, including stock and foreign exchange markets, has reflected the trends observed in major economies while maintaining stability,” the finance ministry said.
“The government and the Bank of Korea plan to remain vigilant and manage risks in vulnerable areas to prevent the increase in market volatility at the end of the year and early 2024,” it said.
Finance Minister Choo Kyung-ho speaks during an emergency meeting on Dec. 14, 2023 in Seoul. (Yonhap)
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