BOK chief emphasizes need to address financial imbalance caused by household debt
- 6 years ago
The head of South Korea's central bank has admitted the economy is experiencing a financial imbalance because of high levels of household debt,… hinting a rate hike could be on the horizon.
Meeting with business leaders on Thursday,... Bank of Korea Governor Lee Ju-yeol said... the economy is growing thanks to strong exports, but there's an increasing imbalance in the financial sector due to high household debt,... which is estimated at around one-point-three trillion U.S. dollars.
Local news outlets are reporting this might signal a possible rate hike later this month...because the low interest rate has driven people to take out loans and overheated the real estate market.
Lee also said it's necessary to create an investment-friendly environment by easing regulations in business sectors.
Meeting with business leaders on Thursday,... Bank of Korea Governor Lee Ju-yeol said... the economy is growing thanks to strong exports, but there's an increasing imbalance in the financial sector due to high household debt,... which is estimated at around one-point-three trillion U.S. dollars.
Local news outlets are reporting this might signal a possible rate hike later this month...because the low interest rate has driven people to take out loans and overheated the real estate market.
Lee also said it's necessary to create an investment-friendly environment by easing regulations in business sectors.