Anchor: U.S. Federal Reserve Chairwoman Janet Yellen has suggested that the Fed will temper the speed of its rate hikes, citing risk factors to the U.S.' economic growth. As the local bourse reopened Thursday after a five-day holiday, the South Korean finance ministry held a meeting to assess the impacts of the U.S. Fed's latest economic assessment and the North Korea factor on the economy.
Our Kim In-kyung has more.
 
Report: U.S. Federal Reserve Chairwoman Janet Yellen has hinted at the possibility that the Fed could delay a rate hike.

While testifying at the House Financial Services Committee in Washington on Wednesday, the Fed chairwoman cited global risks that pose a threat to U.S. economic growth.

[Sound bite: U.S. Federal Reserve Chairwoman Janet Yellen (English)]
“ ...declines in the foreign exchange value of the renminbi have intensified uncertainty about China's exchange rate policy and the prospects for its economy. This uncertainty led to increased volatility in global financial markets and, against the background of persistent weakness abroad, exacerbated concerns about the outlook for global growth.”
 
Yellen said although she expects the U.S. labor market to continue to improve, it will be difficult to achieve the Fed's inflation target due to a plunge in international oil prices.
 
Her remarks made investors believe that the Fed is no longer likely to hike rates four more times this year.

South Korea's Finance Ministry held a meeting in the wake of the U.S. Fed's latest economic assessment and market concerns surrounding the shutdown of the inter-Korean Gaeseong industrial factory park.

The ministry plans to hold daily meetings for the time being to monitor movements in the domestic financial and currency markets.
Kim In-kyung, KBS World Radio News.