BOK’s Lee Seung: Must Remain Cautious on Market Volatility amid Continuous Tensions over Inflation Abroad.

After the five-day Lunar New Year holiday, the Bank of Korea (BOK) Vice Governor Lee Seung-heon held a meeting to keep track of the global financial market circumstances.

June 01, 2022 - 02:31 PM 268 views

BOK’s Lee Seung: Must Remain Cautious on Market Volatility amid Continuous Tensions over Inflation Abroad.

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© BOK’s Lee Seung: Must Remain Cautious on Market Volatility amid Continuous Tensions over Inflation Abroad.

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After the five-day Lunar New Year holiday, the Bank of Korea (BOK) Vice Governor Lee Seung-heon held a meeting to keep track of the global financial market circumstances.

Important Quotes

During the five-day Lunar New Year holiday, the international financial markets seemed to remain stable.

However, we should not lower our guard and must keep a close eye on the global threats' progress and their potential impacts on the local fiscal markets and economic conditions.

The largest economies in the world has picked up the pace of monetary policy normalization, geopolitical threats such as growing tensions between Russia and Ukraine and unpredictability over the inflation rates and economic situations of the largest economic countries are considered as factors that could intensify the market volatility.

The Market Reaction

On these cautionary statements, the USD/KRW pair is surging to two-day highs of 1,206.19, while a wider US dollar rally also supports the currency pair. The spot is above 0.41% so far.

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