SEOUL: Bank of Korea (BoK) governor Lee Ju-yeol said the central bank is considering using unconventional policy tools to support growth, after cutting interest rates to a record low and forecasting the first economic contraction since the Asian financial crisis.
“Should it be deemed necessary to expand the accommodative stance of monetary policy further, we could actively respond with policy tools other than rates, ” Lee said at a press briefing, adding that all options are on the table.
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