Bank of Korea Governor Rhee Chang-yong discusses the market reaction following the brief decree of martial law by President Yoon Suk Yeol late Tuesday. Speaking to Bloomberg’s Haslinda Amin, he says it’s unlikely the central bank will cut interest rates despite the political chaos. He also expresses confidence in the government’s ability to handle the crisis and says geopolitical tensions and global trade uncertainties are a bigger concern.
00:00:00 Rhee on markets fallout from martial law declaration
00:02:02 Is the BOK prepared for prolonged political uncertainty?
00:03:05 Outlook for interest rates: “no reason to change economic outlook”
00:04:30 Communication with finance ministers, regulators; FX markets
00:06:56 “Political certainty has actually increased”
00:09:09 What scenarios would worry BOK Governor Rhee?
00:10:42 BOK’s Rhee discusses Korean won, markets
00:12:38 What to expect in next 48 hours in South Korea politics, economy
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Sorry for the BOK head. He was promised to become the next prime minister by Yoon, by subordinating Yoons order to lower the interest rate to sustain realty price with sacrifice of share price and national economy.
What a pathetic ass hole.
Hello great investors. I’m new here, how can I invest? Which step should I take? Because what others have said recently makes me want to start investing
With or despite all respect for his rank and status in Korean government, I feel obliged to point out that a series of decisions for hike or drop of standard interest over past 2 and a half years rate have been mediocre at best and negligent at worst. He kept the rate at low point, 3.5 % for prolonged time only to weaken value of Korean currency, resulting in massive rise of price of Korean exporters’ indispensable raw materials and half-finished products and equally massive and outrageous rise of price for imported goods, especially that of groceries.
Incidentally, I ask fellow audience to to keenly realize one fact that because Korean industries and population are heavily depend on export and import, it is a matter of life and death for Korea LITERALLY.
Notwithstanding, this chair of Bank of Korea has made suspiciously curency-unfriendly decisions constantly. To make the matters worse, independent of external geopolitical conditions, Mr. Lee lowered the rate against sensible economic opinions from his colleagues and sages and intellectuals recently. I opin as such that Mr. Lee needs to be thoroughly audited. Accountability for dragging down exporters and importers AND Korean middle class is in order.
S Korea is going into a depression hence the Turmoil!!!