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BOK Chief: Uncertainty is Keyword for World Economy

Written: 2015-10-28 15:23:19Updated: 2015-10-29 09:49:19

Anchor: Countries around the world are closely watching whether the U.S. will raise its key interest rate during a regular Federal Reserve meeting that will run until Thursday. Bank of Korea governor Lee Ju-yeol said he, too, is keeping an eye on the meeting and vowed to be prepared for global economic uncertainties. 
Our Bae Joo-yon has more.
 
Report:  Bank of Korea Governor Lee Ju-yeol met with economic experts on Wednesday for an economists’ dialogue at the central bank.
 
During the meeting, he said that uncertainty is the keyword for the global economy, highlighting the so-called G2 risks, or an expected increase in the U.S. key interest rate as well as the slowing Chinese economy.
 
Lee said he will closely watch for the results of the U.S. Federal Reserve’s Open Market Committee meeting that will be held on Wednesday and Thursday.
 
Following the release of unexpected economic indicators, it has become extremely unpredictable whether the U.S. will raise its key interest rate in December or delay the move until next year.
 
Lee said even if the U.S. marks up its interest rate, the negative impact on the South Korean economy is not expected to be significant.
 
On China, Lee said he believes there is little possibility its economy will make a hard landing.
 
The central bank chief then emphasized the need to raise South Korea's potential growth capacity through restructuring and to discover future growth industries as a way of dealing with global economic uncertainties.
 
The central bank recently marked down its economic outlook for this year to two-point-seven percent, citing uncertainties abroad.
Bae Joo-yon, KBS World Radio News.

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