S.Korea central bank chief: no change in stance after Powell speech

By Thomson Reuters Aug 29, 2022 | 7:53 PM

SEOUL (Reuters) – The head of South Korea’s central bank said on Tuesday his bank’s monetary policy stance would not change after a speech last week by Federal Reserve Chair Jerome Powell who said the U.S. economy will need tight monetary policy “for some time”.

Still, Bank of Korea Governor Rhee Chang-yong said his bank would keep closely watching the Fed’s policy decisions as the volatility in global markets has increased, the central bank said in a text message to reporters.

(Reporting by Choonsik Yoo; Editing by Kim Coghill)