BOK’s Lee: Fiscal policy would be much more effective than monetary policy in solving structural issues
|“Friday's rate decision was not unanimous,” South Korea’s central bank, Bank of Korea (BOK), Governor Lee Ju-yeol said in a statement on Friday following the central bank’s monetary policy decision.
The BOK left the Key interest rate unchanged at 1.25% earlier today, as widely expected.
Key Quotes:
Board member Shin in-seok was dissenter to Friday’s rate decision.
Board member Cho dong-chul was dissenter to Friday’s rate decision.
Fiscal policy would be much more effective than monetary policy in solving structural issues of S. Korea economy.
Deal signed by US-China positive for S. Korea exports.
On the BOK’s status-quo and upbeat comments from Governor Lee, the Korean Won (KRW) clocked three-day highs vs. its American rival at 1,156.06. At the press time, USD/KRW trades at 1,158, still down 0.18% on the day.
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