In order to properly address developing financial imbalances, South Korea’s central bank will need to change the scope of its loose monetary policy, according to a joint statement released by the Bank of Korea and the Finance Ministry on Friday. The statement, which came after a rare meeting between finance minister Hong Nam-ki and BOK Governor Lee Ju-yeol, stated that fiscal policies must continue expansionary for the time being.
(Cynthia Kim contributed reporting, and Jacqueline Wong edited the piece.)
Reuters is the source of this information./n
