October 30, 2019 / 10:59 PM / a month ago

South Korea central bank sees room for further easing - senior deputy chief

FILE PHOTO: Bank of Korea Deputy Governor Myun-Shik Yoon is seen during the Federal Reserve Bank of Kansas City's annual Jackson Hole Economic Policy Symposium in Jackson Hole, Wyoming, August 29, 2015. REUTERS/Jonathan Crosby

SEOUL (Reuters) - The latest policy decision and comments by the U.S. Federal Reserve means there is room for the South Korean central bank to cut its policy interest rate if needed, its senior deputy governor said on Thursday.

The U.S. central bank’s rate cut on Wednesday and its largely accommodative policy stance will help the global economy’s growth, and the economy here as well, the Bank of Korea’s Senior Deputy Governor Yoon Myun-shik told reporters.

He said the U.S. Fed’s decision would not influence the Bank of Korea’s existing stance that it will cut the local policy rate if needed to support the local economy.

Reporting by Joori Roh; Writing by Choonsik Yoo; Editing by Sandra Maler

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