Economic news
S.Korea central bank chief: no change in stance after Powell speech
2022.08.30 04:02
FILE PHOTO: South Korea’s new central bank governor Rhee Chang-yong speaks during his inauguration ceremony in Seoul, South Korea April 21, 2022. SeongJoon Cho/Pool via REUTERS
SEOUL (Reuters) – The head of South Korea’s central bank said on Tuesday his bank’s monetary policy stance would not change after a speech last week by Federal Reserve Chair Jerome Powell who said the U.S. economy will need tight monetary policy “for some time”.
Still, Bank of Korea Governor Rhee Chang-yong said his bank would keep closely watching the Fed’s policy decisions as the volatility in global markets has increased, the central bank said in a text message to reporters.
