South Korea's central bank chief reiterated on Wednesday that its current monetary policy is supportive of growth but propped the door open to possible easing in future by adding the economy is recovering at a slower pace than earlier thought.
“Just because our monetary policy seems less accommodative than other countries on the surface does not mean that it is restraining growth," Bank of Korea Lee Ju-yeol said at a news conference held to mark his second year in office. "“We must also keep in mind that we are at risk of capital outflows unlike countries with reserve currencies."
Lee said the BoK was more wary early this year, referring to a surge in the dollar after the US Federal Reserve raised interest rates for the first time in a decade in December last year. The dollar has since lost some steam, easing downward pressure on emerging market assets such as the Korean won.
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“Just because our monetary policy seems less accommodative than other countries on the surface does not mean that it is restraining growth," Bank of Korea Lee Ju-yeol said at a news conference held to mark his second year in office. "“We must also keep in mind that we are at risk of capital outflows unlike countries with reserve currencies."
Lee said the BoK was more wary early this year, referring to a surge in the dollar after the US Federal Reserve raised interest rates for the first time in a decade in December last year. The dollar has since lost some steam, easing downward pressure on emerging market assets such as the Korean won.
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