The Bank of Korea: "FOMC Results Largely Align with Market Expectations"

"Monitoring COVID-19 Developments... Strengthening Surveillance of Risk Factors"

[Asia Economy Reporter Jang Sehee] The Bank of Korea evaluated the results of the U.S. Federal Open Market Committee (FOMC) meeting held on the 27th-28th (local time) as "largely in line with market expectations, and the impact on the international financial market was limited."

On the 29th, the Bank of Korea held a situation review meeting at its headquarters in Jung-gu, Seoul, chaired by Deputy Governor Lee Seung-heon, to assess the 'Financial market trends following the FOMC meeting results and the potential impact on the domestic financial market,' and made this statement.

The meeting was attended by the Director of the Monetary Policy Department, Director of the International Department, Director of the Financial Market Department, Public Relations Officer, Head of Investment Management Department, Head of Market Coordination Team, and Head of Foreign Exchange Market Team.

The Bank of Korea stated, "Given the possibility of increased volatility in domestic and international financial markets due to the pace of economic improvement in major countries and the development of the COVID-19 situation, we plan to strengthen monitoring of financial market risk factors and continuously review response measures."

Meanwhile, the Federal Reserve, after its two-day FOMC meeting, kept existing policies unchanged as expected. It decided to continue bond purchases at a scale of $120 billion per month, and maintained the federal funds (FF) rate target range at 0-0.25%.