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…
Korean financial authorities have pledged to monitor the potential effects of the upcoming U.S. midterm elections on financial markets, with a readiness to implement swift countermeasures should market volatility surge. This decision comes after the U.S. Federal Reserve decided to keep the interest rate steady in a 10-2 vote, at the 3.75-4.00 percent range.
The Fed's choice seems to indicate their persistent focus on stabilizing consumer prices while evaluating the impact of September's rate hike and other economic indicators on their future policy trajectory. Finance Minister Lee Hyoung-il held talks on this matter with Bank of Korea Governor Shin Hyun-song, Financial Services Commission Chairman Lee Eog-weon, and Financial Supervisory Service Governor Lee Chan-jin.
The volatility in financial markets is being driven by earnings and investment outlooks for leading technology companies, as well as fluctuations in global oil prices, according to Lee.
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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