BoK emphasises sophisticated response to growth

Exercising caution: A currency trader at a foreign exchange in Seoul. Rhee says the BoK will have to carry out monetary policy in a more sophisticated manner, taking into account downside risks as well as changes in major countries’ monetary policies. — AP

SEOUL: The governor of South Korea’s central bank says that a more sophisticated monetary policy was necessary this year, citing risks to growth and financial stability as major policy factors.

“Going forward, we will have to carry out monetary policy in a more sophisticated manner, taking into account downside risks to growth and financial stability risks as well as changes in major countries’ monetary policies, such as the United States,” governor Rhee Chang-yong said in remarks at the Bank of Korea’s (BoK) 73rd anniversary ceremony.