Central Banks
Bank of Korea’s Rhee Says Fed Cut Eased FX Concerns as He Mulls Policy Shift
- Governor says focus now on domestic factors after Fed rate cut
- BOK has been considering timing for policy pivot to easing
Rhee Chang-yong
Photographer: SeongJoon Cho/BloombergThe Bank of Korea can now fully focus on domestic factors as it considers the timing for a potential policy pivot to interest rate cuts after the Federal Reserve’s rate reduction eased concerns over the foreign exchange market, Governer Rhee Chang-yong said.
In his first comments after Wednesday’s Fed decision, Rhee said on Thursday that an environment has been created in which the BOK can implement monetary policy focusing on domestic factors.