BOK says to gradually adjust degree of easing policy

SEOUL, Jan. 7 (Yonhap) -- South Korea's central bank said Thursday it will
maintain its accommodative policy for the time being to support economic
recovery, but plans to gradually adjust the degree of the easing stance this
year.
"The Bank of Korea (BOK) plans to manage the rate policy in a way to help boost
the economic recovery for the time being," the central bank said in a statement.
"But more attention will be given to potential imbalances the extended easing
policy could bring to the economy. The bank plans to adjust the accommodative
policy at a moderate pace and by a proper margin by taking into account financial
and economic conditions."
The BOK cut its key interest rate by a total of 3.25 percentage points to a
record low of 2 percent between October 2008 and February in an effort to put the
brakes on a sharp economic freefall.
sooyeon@yna.co.kr
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