BoK board member: Growth, financial stability key to rate cuts

Slowing domestic demand is increasing the need for pre-emptive responses, but household debt is at a level posing financial risks, board member Hwang said. — Reuters

SEOUL: A board member of South Korea’s central bank says economic growth and financial stability are key factors for the monetary policy board to consider as it determines the timing and pace of interest rate cuts.

“We should simultaneously consider the impact of interest rate cuts on growth and financial stability,” Hwang Kun-il, a member of the Bank of Korea’s (BoK) seven-seat policy board, was quoted as saying in a quarterly policy report released yesterday.