Bank of Korea candidate Lee Chang-yong announced today (24th), "We will seriously consider how to manage monetary policy while taking into account growth, inflation and financial stability in a balanced way."
In his impressions of the nomination distributed through the BOK today, Lee suggested the direction of monetary policy, saying, "As uncertainty in external conditions increases, concerns are growing that domestic inflation and economic risks (risks) may expand at the same time."
"The possibility of a slowdown in the Chinese economy is increasing due to the spread of Omicron mutations in China amid the recent acceleration of the US Federal Reserve's (Fed) monetary policy normalization," he said. It is not easy to estimate the impact on the domestic and foreign economy as the
Candidate Lee added, "Based on my experience working at the International Monetary Fund (IMF) for the past eight years, I will do my best with the Monetary Policy Committee members to help the Korean economy overcome the difficulties it is facing now."
Regarding Governor Lee Ju-yeol, who will be retiring at the end of this month, he said, "I would like to thank Governor Lee Ju-yeol for leading the BOK for the past 8 years." "I would like to pay tribute to the efforts to normalize monetary policy," he said.
(Photo = Yonhap News)