Korea to monitor impact of rising bond yields around globe
Korea will closely monitor its government bond market amid rising long-term yields in major economies and heightened economic uncertainties, the finance minister said Friday. "Amid increased fiscal spending and uncertainties stemming from the Middle East, long-term government bond yields in major economies, including the United States, Japan and those in Europe, are rising to their highest levels…
South Korea plans to closely monitor the impact of rising government bond yields worldwide, according to Finance Minister Koo Yun-cheol. The minister highlighted this concern during a meeting with financial officials, where concerns were raised about increasing yields in major economies like the United States, Japan, and European countries. These rising yields have reached their highest levels in decades due to increased fiscal spending and uncertainties, particularly stemming from the Middle East situation.
Koo emphasized that the Korean government will closely monitor the issuance and trading conditions in the government bond market. He added that Seoul is committed to minimizing borrowing costs for businesses and households. Furthermore, Koo noted that the Korean won reached the 1,300 won level against the US dollar for the first time in 11 months this week. This came after the currency weakened to the 1,550 won level in early July, amid the country's record-breaking economic challenges.
Written by urgent.news from The Korea Times's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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- S. Korea to monitor impact of rising bond yields around globe en.yna.co.kr
- Korea to monitor impact of rising bond yields around globe koreatimes.co.kr
