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Bank of Korea vows to keep markets stable after Yoon impeachment
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Bank of Korea vows to keep markets stable after Yoon impeachment
Dec 14, 2024 9:49 PM

SEOUL, Dec 15 (Reuters) - South Korea's central bank

vowed on Sunday vows to keep markets stable after South Korean

President Yoon Suk Yeol was impeached over his brief imposition

of martial law.

The Bank of Korea said in a statement that it would use all

available policy instruments in conjunction with the government

to respond to and avert any escalation of volatility in

financial and foreign exchange markets.

The bank said it is necessary to respond more actively to

the economic impact than in past presidential impeachment

periods due to heightened challenges in external conditions,

such as increased uncertainty in the trading environment and

intensified global competition in key industries.

South Korea's financial regulator said in a statement that

financial markets are expected to stabilise as recent political

events are considered temporary shocks, but it will expand

market-stabilising funds if needed.

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