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BOK Governor: US Rate Hike Won't Have Particular Impact on Domestic Markets

Written: 2017-12-14 09:49:49Updated: 2017-12-14 11:08:37

BOK Governor: US Rate Hike Won't Have Particular Impact on Domestic Markets

Bank of Korea Governor Lee Ju-yeol says he doesn't expect the U.S. rate hike to have a specific impact on South Korea.
 
Lee told reporters on his way to work on Thursday that the increase was expected and that there was no change in the Federal Reserve's hike projections for next year.
 
The U.S. central bank on Wednesday raised key interest rates by a quarter of a percentage point to a range of one-point-25 percent to one-point-50 percent. The upper end of the target is on par with the Bank of Korea's benchmark rate.
 
The Fed predicted three more increases next year, unchanged from its stance in September.
 
Lee said that although the U.S. raised its growth projections, it is not as hawkish as expected.
 
Asked whether a possible reversal in interest rates between South Korea and the U.S. could affect the BOK's monetary policy, Lee said the bank will make a comprehensive assessment of the domestic economy, prices, financial stability and risks.

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