SEOUL - South Korean President Yoon Suk Yeol said on Thursday there was a need to"manage" policy interest rates should expectations about lower borrowing costs lead to further price increases in the country's already hot housing market.
The Bank of Korea said at its Aug. 22 meeting that it was time to prepare to cut interest rate cuts after leaving the benchmark rate steady at a 15-year high of 3.50% for the 13th straight meeting, as expected. The BOK's independence to set policy interest rates is guaranteed by law, but governments have a track record of pressuring the seven-memeber board to cooperate over policy direction.Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors.