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South Korea central bank chief says policy currently focused on growth

Monday, February 23, 2015 - 11:32
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The Bank of Korea's current monetary policy is focused on recovering economic growth, more so than stabilising inflation, Governor Lee Ju-yeol said to lawmakers in parliament on Monday.

[SEOUL] The Bank of Korea's current monetary policy is focused on recovering economic growth, more so than stabilising inflation, Governor Lee Ju-yeol said to lawmakers in parliament on Monday.

South Korea's March futures on three-year treasury bonds turned higher after the comment, which was seen as supporting another rate cut, trading up 0.06 points at 108.50 as of 0316 GMT.

Mr Lee also said it was difficult to specify publicly which direction interest rates should take, but added the central bank would focus on policies that would stabilise markets and aid small to medium sized companies.

REUTERS