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Incoming Bank of Korea board member Suh says need to consider additional liquidity measures
[SEOUL] A new board member at South Korea's central bank on Tuesday said the bank needs to review additional measures to boost liquidity and ease any funding strains in onshore markets amid the coronavirus outbreak.
Suh Young Kyung, who began her four-year term as one of the seven board members at the Bank of Korea on Tuesday, said in her inauguration speech that such consideration is necessary to add to a wide range of loan programmes the bank introduced recently.
"Going forward, additional policy measures need to be reviewed for a smooth injection of liquidity into the private sector," Ms Suh said in her speech.
Two other incoming board members - Cho Yoon Je, a former ambassador to the United States, and economist Joo Sang Yong also began their terms on Tuesday.
The BOK last week decided to expand loans to local brokerages and insurers for the first time, after slashing the policy rate to a record low a month earlier.