BOK’s Lee: Fiscal policy would be much more effective than monetary policy in solving structural issues

Dhwani Mehta FXStreet

“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.

Author

Dhwani Mehta

FXStreet

Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

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