이 누리집은 대한민국 공식 전자정부 누리집입니다.
Biz News Korea(Eng)
Korea’s finance minister and central bank chief press one another to do more to help economy
- Collected
- 2016.10.11
- Distributed
- 2016.10.12
- Source
- Go Direct
Compared with the advanced markets where the interest rates are hovering at zero percent or even under, the base rate in Korea has room to go lower, Yoo on Saturday told a media outlet in Washington D.C. where he is attending the annual meetings of the World Bank and the International Monetary Fund.
On the same day, Lee Ju-yeol, the Bank of Korea governor, maintained that fiscal options were “limited” given dangerously-high household debt level and volatility in the international markets.
He instead called for more fiscal actions to prop up the economy saying when compared with public finances of other nations, Korea’s fiscal conditions are “top class.”
Yoo responded that the government has done all it can to stimulate the economy, having created a supplementary budget in the second half and proposed an expansionary budget for next year. In addition the government plans extra reinforcement in public-finance spending of 10 trillion won ($9 billion), to suggest the central bank has been less proactive in aiding the economy.
The Bank of Korea’s monetary policy meeting in this week is expected to keep the base rate unchanged.
By Lee Jin-myung and Chung Ui-hyun
[ⓒ Pulse by Maeil Business News Korea & mk.co.kr, All rights reserved]