Comparing the current situation with the impeachment phases of past presidents, the BOK said the latest case is “characterised by greater external challenges, such as heightened uncertainty in the trading environment and intensified global competition.”
South Korea’s central bank vowed to stabilise financial markets and highlighted the importance of “uninterrupted implementation” of key fiscal and economic measures, in its first statement since lawmakers voted to impeach President Yoon Suk Yeol.
“The Bank of Korea intends to utilise all available policy instruments, in conjunction with the government, to respond to and avert an escalation of volatility in financial and foreign exchange markets,” the central bank said on Sunday, addressing the fallout of Yoon’s failed martial law decree earlier this month.
