S.Korea c.bank: worst past in US subprime crisis

Mon Mar 24, 2008 11:08pm GMT
[-] Text [+]

SEOUL, March 25 (Reuters) - The head of South Korea's central bank said on Tuesday the U.S. subprime mortgage crisis may have passed the worst point, although a few more bad cases can take place in the U.S. financial sector.

"There may be one or two more events taking place this year. But I think the worst situation has passed," Bank of Korea Governor Lee Seong-tae said before a forum of local business executives.

He also said the U.S. dollar's value would likely remain weak for the time being.

He said the persistent foreign sell-off in local stock markets might continue a little further. (Reporting by Yoo Choonsik)

 
 
by Name by Symbol