S.Korea policymakers to closely monitor impact of rising interest rates

SEOUL – South Korea’s finance ministry and central bank said on Monday they had agreed to cooperate in minimizing adverse risks of rising interest rates on vulnerable households and businesses.

In a joint statement released after a meeting of finance minister Choo Kyung-ho, Bank of Korea Governor Rhee Chang-yong and others, policymakers said they will closely monitor the impact on currency markets, financial companies and small businesses.

(Reporting by Cynthia Kim; Editing by Kim Coghill)