Starting next year, the Bank of Korea will meet for rate-setting policy decisions eight times a year instead of monthly to direct monetary policy with more long-term prospects. Central banks around the world have been scaling back rate-setting meetings to be less responsive to monthly data.
The monetary policy board will continue to meet once a month, devoting the other four meetings to discuss the financial market conditions.
By Boo Jang-won
[ⓒ Pulse by Maeil Business News Korea & mk.co.kr, All rights reserved]