New BOK senior deputy gov. calls for prudent, flexible monetary policy
The new senior deputy governor of the Bank of Korea (BOK) said Friday that monetary policy should be implemented in a prudent and flexible manner as expectations grow for a rate hike at next week's policy meeting amid accelerating inflation. "While raising interest rates can have certain policy benefits, there may also be side effects," Senior Deputy Gov. Kwon Min-soo told reporters after his…
The Bank of Korea (BOK) has appointed a new senior deputy governor who has called for a prudent and flexible approach to monetary policy as inflation continues to accelerate. Senior Deputy Gov. Kwon Min-soo emphasized the need for balanced and cautious decision-making during his inauguration ceremony, stating that while raising interest rates can have benefits, there are also potential side effects to consider.
Kwon highlighted the importance of taking into account growth trends, inflation, and financial stability when deciding on interest rates, and will participate in the Monetary Policy Board's upcoming rate-setting meeting.
Brief written by urgent.news from The Korea Times's own syndicated text. Machine-written — may contain errors; check the original before relying on it.
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