December 20, 2018 / 12:08 AM / 6 months ago

BOK chief says central banks can better manage policy if Fed slows tightening

SEOUL, Dec 20 (Reuters) - The Bank of Korea’s governor said on Thursday that global central banks would have more headroom to manage their monetary policy if the U.S. Federal Reserve slows the pace of its rate hikes.

“If the U.S. Federal Reserve slows the normalisation pace, that would reduce the adverse effects on the global economy and give some room to other countries in managing their monetary policy,” BOK Governor Lee Ju-yeol told reporters.

Separately, Vice Finance Minister Lee Ho-seung told reporters after holding a meeting of senior economic and financial officials that the Fed’s latest policy decision was unlikely have any immediate impact on fund flows.

Hours earlier, the Fed raised rates and said it was keeping the core of its plan to tighten monetary policy intact, despite rising uncertainty about global economic growth.

Reporting by Seunggyu Lim and Yena Park; Writing by Choonsik Yoo Editing by Shri Navaratnam

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