According to Odaily Planet Daily, South Korea's central bank governor Lee Chang-yong said that continued interest rate cuts could become a source of anxiety, and he vowed to closely monitor risk factors to determine the pace of the central bank's monetary policy.
South Korea’s central bank meets this month to set interest rates as the country faces its worst political turmoil in decades, which has pushed the won to its lowest level since 2009 and weighed on stocks.
The crash of a Jeju Air plane that left only two of 181 people alive could further dampen consumer confidence. Lee Chang-yong said monetary policy alone would be hard to stabilize the economy and warned that a leadership vacuum could weigh on markets.