Bank Of Korea Governor nominee Shin Hyun-song says flexible monetary policy needed amid Iran war

VoM News Desk | March 31, 2026 | 07:39 AM IST | Breaking News, Business | Follow on Google News

Bank Of Korea Governor nominee Shin Hyun-song says flexible monetary policy needed amid Iran war

SEOUL, March 31 (Reuters) – Shin Hyun-song, nominee for the governor ​of Bank of Korea, said on ‌Tuesday that the central bank needs “flexible” monetary policy to deal with rising risks from the Iran war.

Shin ​said at a meeting with reporters that ​the current level of the Korean won ⁠was not concerning and that liquidity was ​good. The currency hit the weakest level ​against the U.S. dollar since March 2009 in Seoul trading.

Shin said he sees the crisis in the Middle ​East as the biggest risk to the ​Korean economy. The government’s plan for an extra budget is ‌needed ⁠for low-income people hit by financial difficulties due to the Iran war, he said.

Australia’s Collins Foods to transfer 20 Taco Bell outlets to Yum Brands

Inflationary pressure from the extra budget would be limited, ​he added, ​given the ⁠design and the scale of the plan.

Shin, head of economic department at ​the Bank of International Settlements (BIS), was ​appointed ⁠last week by President Lee Jae Myung as nominee to lead the central bank. He ⁠will ​go through a hearing at ​the parliament before taking office

VoM News Desk

VoM News is an online web portal in jammu Kashmir offers regional, National & global news.