BOK’s Rhee: There is no change in stance after Powell speech

Bank of Korea (BOK) Governor Rhee Chang-yong said on Tuesday, “there has been no change in policy since the last meeting,” despite Fed Chair Jerome Powell’s hawkish stance.

Key quotes

We will closely examine the fed's policy decisions and their impact on financial markets.

Future Fed rate hikes may increase global market volatility.

There has been no change in policy since the last meeting.

Market reaction

USD/KRW rebounded firmly from near 1,344.50 levels on the above comments. The pair was last seen trading at 1,348.95, up 0.22% on the day.