Lee Ju-yeol: "Actively Utilize Available Policy Measures to Ensure Financial Stability" (Update)

[Image source=Yonhap News]

[Asia Economy Reporter Kim Eun-byeol] Lee Ju-yeol, Governor of the Bank of Korea, stated on the 10th, "As the volatility of the domestic financial and foreign exchange markets has increased due to the impact of the novel coronavirus disease (COVID-19) situation, financial stability risks are rising. Therefore, we will actively utilize all available policy measures to promote financial stability."

Governor Lee convened an executive meeting that morning to review the domestic and international financial and foreign exchange market conditions and announced this through a press release.

He said, "In particular, if the financing conditions for small and medium-sized enterprises deteriorate and there are concerns about the soundness of financial institutions being impaired, we will actively respond through lending policies and open market operations."

He added, "We will continue to closely monitor exchange rates and foreign currency funding conditions and take market stabilization measures if necessary."

As COVID-19 spreads globally, showing signs of a pandemic, and international oil prices have plummeted, the international financial markets faced the worst crash since the 2008 financial crisis the previous day.

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