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BOK Governor Says FX Intervention Useful Against KRW Depreciation

SOUTH KOREA
  • Bank of Korea Governor Rhee speaks at IMF seminar in Washington:
    • FX intervention was useful against won depreciation
    • Intervention has helped stabilize FX exchange markets
    • Worried of potential secular stagnation
    • Structural reforms needed for low economic growth
    • More focus needed on credit allocation than on rates (BBG)

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