BOK governor calls for stronger economic resilience in Asia Pacific region
- 6 years ago
The head of Korea's central bank, Lee Ju-yeol, emphasized the need for countries in the Asia Pacific to strengthen their economic resilience.
At a joint conference organized by the Bank of Korea and the Bank of International Settlements Monday, Governor Lee said increasing economic resilience in the region is important to prevent sudden foreign capital outflows, mostly in the form of bonds, from causing systematic risks.
He said the U.S. rate hikes and escalating U.S.-China trade spat have triggered capital outflows and financial volatility in several emerging markets, and said strengthening overall economic resilience through improving current accounts and increasing foreign reserves is important.
At a joint conference organized by the Bank of Korea and the Bank of International Settlements Monday, Governor Lee said increasing economic resilience in the region is important to prevent sudden foreign capital outflows, mostly in the form of bonds, from causing systematic risks.
He said the U.S. rate hikes and escalating U.S.-China trade spat have triggered capital outflows and financial volatility in several emerging markets, and said strengthening overall economic resilience through improving current accounts and increasing foreign reserves is important.