"There is a high chance of increased volatility whenever the U.S. Federal Reserve makes a policy rate decision and the global finance and foreign exchange market has to digest it," Bank of Korea Governor Rhee Chang-yong said
Powell's comments hinting at more hikes ahead were"not much different" with expectations from expectations, Rhee saidThe Bank of Korea warned Tuesday of"increased volatility" as global markets brace for future hikes from the U.S. Federal Reserve. "There is a high chance of increased volatility whenever the U.S. Federal Reserve makes a policy rate decision and the global finance and foreign exchange market has to digest it," BOK Governor Rhee Chang-yong, according to a text message from the central bank.
Rhee said Powell's comments on the U.S. central bank's plans to continue hiking rates in September were"not much different" from South Korea's stance during the central bank's August meeting.Download NBC 5 Dallas-Fort Worth