BOK’s Lee: Fiscal policy would be much more effective than monetary policy in solving structural issues

“Friday's rate decision was not unanimous,” South Korea’s central bank, Bank of Korea (BOK), Governor Lee Ju-yeol said in a statement on Friday following the central bank’s monetary policy decision.

The BOK left the Key interest rate unchanged at 1.25% earlier today, as widely expected.

Key Quotes:

Board member Shin in-seok was dissenter to Friday’s rate decision.

Board member Cho dong-chul was dissenter to Friday’s rate decision.

Fiscal policy would be much more effective than monetary policy in solving structural issues of S. Korea economy.

Deal signed by US-China positive for S. Korea exports.