The US Federal Reserve Building is seen in Washington, DC. (AFP-Yonhap)
The South Korean central bank said Friday uncertainties have grown over global growth, inflation, and monetary policy paths of major economies following Donald Trump's presidential election victory, vowing enhanced market monitoring and timely responses.
Bank of Korea Deputy Gov. Ryoo Sang-dai made the comment during a meeting meant to check the market situation after the Federal Reserve on Thursday decided to cut the benchmark interest rate by 0.25 percentage point, the second consecutive rate cut following a half-percentage point rate reduction in September.
"Uncertainties run high surrounding global growth and inflation, as well as the monetary policy path by major nations. We cannot rule out the possibility of volatility in the foreign exchange and financial markets growing further," Ryoo said.
The BOK will strengthen the market monitoring to assess the impact of potential policy changes under the new US administration and be fully prepared for timely responses when needed, the official added. (Yonhap)
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