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Economic news

South Korea central bank vows to strengthen monitoring of financial stability risks

07/18/2022

Less than a minute

2022.07.18 11:46

South Korea central bank vows to strengthen monitoring of financial stability risks
FILE PHOTO: A shopkeeper waits for customers at a traditional market in Seoul, South Korea, January 14, 2022. REUTERS/Kim Hong-Ji

SEOUL (Reuters) – South Korea’s central bank said on Monday it will step up monitoring of the impact of higher interest rates on the stability of the financial system.

The Bank of Korea will cooperate with regulators for policy efforts on easing debt burdens for those facing difficulties, it said in a statement after a meeting by Governor Rhee Chang-yong and Financial Services Commission chairman Kim Joo-hyun.

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07/18/2022

Less than a minute