BOK says Fed rate cut meets market expectations
- 5 years ago
The Bank of Korea on Thursday said the U.S. rate cut generally met market expectations.
BOK senior deputy governor Yoon Myun-shik said the Fed's rate cut helps remove some market uncertainty and will help support global growth and have a positive effect on the local economy.
He added that the rate cut helps somewhat remove concerns over a possible capital outflow from the country and that the central bank will maintain its monetary easing stance.
Currently, the Bank of Korea's key interest rate is at an all-time low of 1-point-25 percent, lower than the U.S.
BOK senior deputy governor Yoon Myun-shik said the Fed's rate cut helps remove some market uncertainty and will help support global growth and have a positive effect on the local economy.
He added that the rate cut helps somewhat remove concerns over a possible capital outflow from the country and that the central bank will maintain its monetary easing stance.
Currently, the Bank of Korea's key interest rate is at an all-time low of 1-point-25 percent, lower than the U.S.