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)