BOK governor says Fed's rate freeze will help stabilize financial markets
- 5 years ago
The head of South Korea's central bank, Lee Ju-yeol, said Thursday that the U.S. Federal Reserve's decision to freeze its target interest rate was a more dovish gesture than markets expected.
In a shift from its stance a month earlier, the Fed also discarded its promises of "further gradual increases."
The BOK chief said the Fed's approach will help stabilize financial markets, and will affect the monetary policies of South Korea and other countries.
U.S. rates are currently 75 basis points higher than Korea's.
In a shift from its stance a month earlier, the Fed also discarded its promises of "further gradual increases."
The BOK chief said the Fed's approach will help stabilize financial markets, and will affect the monetary policies of South Korea and other countries.
U.S. rates are currently 75 basis points higher than Korea's.