BOK chief: Emerging economies may need to tighten monetary policies

06/26/2013 | Yonhap News Agency (South Korea)

Less stimulus in developed economies may lead to tighter monetary policies in emerging countries to stem outflows of capital, said Bank of Korea Governor Kim Choong-soo. "Emerging economies with open capital markets will be particularly vulnerable to such negative impacts on the growth of global financial uncertainty. They may be forced to tighten monetary policy to fight against capital outflows and associated exchange market pressure stemming from the rise in the global interest rate," Kim said.

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Yonhap News Agency (South Korea)

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