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South Korea's central bank top nominee vows balanced policy

Rhee Chang-yong, the top nominee to be next South Korea's central bank chief, has vowed to implement balanced monetary policy and cooperate with monetary policy board members to address existing risks. Rhee, director of the Asia and Pacific department at the International Monetary Fund, has been tapped by outgoing South Korean president Moon Jae-in to be next Bank of Korea (BOK) governor. He said existing external uncertainties continue to fuel high inflationary pressure and economic risks. The governor nominee said it is a great responsibility to lead the central bank at such an important time. His nomination comes at a trying time when the BOK has to steer the nation’s monetary policy amid high inflationary pressure.

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