Korea to closely monitor impact of upcoming US midterm elections
Korean financial authorities said Thursday they will closely monitor the impact of the U.S. midterm elections on financial markets and take immediate countermeasures if necessary in the event of sharp market fluctuations. Finance Minister Lee Hyoung-il held discussions on the issue with Bank of Korea (BOK) Gov. Shin Hyun-song, Financial Services Commission Chairman Lee Eog-weon and Financial…
Korea's financial authorities have pledged to closely monitor the potential impact of the upcoming U.S. midterm elections on financial markets, with the capability to take immediate countermeasures if sharp market fluctuations occur. Finance Minister Lee Hyoung-il held talks with Bank of Korea Governor Shin Hyun-song, Financial Services Commission Chairman Lee Eog-weon, and Financial Supervisory Service Governor Lee Chan-jin following the Federal Reserve's decision to keep interest rates steady overnight.
The Fed voted 10-2 to maintain the rate between 3.75-4.00 percent. This decision highlights the Fed's ongoing focus on stabilizing consumer prices while evaluating the effects of September's rate hike and other economic indicators for future policy decisions. Korea's finance minister stated that earnings and investment outlooks for major technology companies, along with fluctuations in global oil prices, are contributing to market volatility.
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.
