SEOUL : South Korea's central bank said on Monday there was a need to manage financial stability in addition to price risks as the country's high household debts have started to climb.'In terms of monetary policy, it should consider financial stability more actively to prevent excessive leveraging or risk
SEOUL : South Korea's central bank said on Monday there was a need to manage financial stability in addition to price risks as the country's high household debts have started to climb.
"There is a need to discuss introducing a 'prudential monetary policy' with higher consideration on financial stability, in addition to price stability," the central bank said. Total household debt stood at 105.0 per cent of the country's gross domestic product in the fourth quarter of 2022, the third highest after Switzerland and Australia, among 43 major countries complied by the Bank for International Settlements.
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