Written by 1:14 PM Economics

[Breaking News] Lee Chang-yong criticizes practical theory “Household loans increase by 10 trillion won even without interest rate cut”


, ‘[Financial News] Bank of Korea Governor Lee Chang-yong said, “There is an argument that not lowering the interest rate in August was a mistake,” and asked, “Did you anticipate the nearly 10 trillion won increase in household loans even though the interest rate was not cut?” The governor made these remarks at a press conference following the Monetary Policy Direction Committee meeting of the Finance and Monetary Committee held at the Bank of Korea headquarters in central Seoul on that day.’,

, ‘Governor Lee said, “There were opinions even within the Bank in August that lowering the interest rate would be beneficial, but at that time, Seoul apartment transaction prices had surged by 20% annually, showing signs of rising to the point where it would be difficult to control real estate prices,” and added, “I thought it would be better to strengthen macroeconomic stability by discussing with the government to prevent interest rate cuts from further stimulating housing price sentiment.”‘]

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