ID :
20221
Fri, 09/19/2008 - 20:27
Auther :
Shortlink :
http://m.oananews.org//node/20221
The shortlink copeid
BOK ready to take measures to stabilize market
SEOUL, Sept. 19 (Yonhap) -- South Korea's central bank is ready to take action if necessary to stabilize markets currently hit by a global financial crisis, its chief said Friday.
"The central bank will beef up monitoring of financial markets, and take preemptive actions, including increasing liquidity, to calm market instability," Bank of Korea (BOK) Governor Lee Seong-tae said in a meeting with financial experts.
Lee urged local lenders not to call in loans too rapidly to stem any shock to the economy, according to the central bank. The central bank provided 3.5 trillion won (US$3 billion) to the financial system through repurchase-agreement operations on Thursday.
South Korea's currency and stocks tumbled this week on speculation that financial woes in the U.S., caused by the collapse of Lehman Brothers Holdings Inc., may deepen a global credit squeeze.
"The central bank will beef up monitoring of financial markets, and take preemptive actions, including increasing liquidity, to calm market instability," Bank of Korea (BOK) Governor Lee Seong-tae said in a meeting with financial experts.
Lee urged local lenders not to call in loans too rapidly to stem any shock to the economy, according to the central bank. The central bank provided 3.5 trillion won (US$3 billion) to the financial system through repurchase-agreement operations on Thursday.
South Korea's currency and stocks tumbled this week on speculation that financial woes in the U.S., caused by the collapse of Lehman Brothers Holdings Inc., may deepen a global credit squeeze.
