Bank of Korea: "Timely Market Stabilization Measures if Volatility Expands After U.S. Airstrike on Iran's Nuclear Facilities"

Yoo Sangdae Convenes 'Emergency Response Task Force Meeting'

"If volatility in the financial and foreign exchange markets expands excessively, we will promptly implement necessary market stabilization measures."

Yoo Sangdae, Deputy Governor of the Bank of Korea, is speaking at the joint press briefing on the promotion plan for the CBDC usability test held at the Bank of Korea Integrated Annex in Jung-gu, Seoul, on the afternoon of the 4th. Photo by Joint Press Corps

On the morning of the 23rd, Yoo Sangdae, Deputy Governor of the Bank of Korea, held an 'Emergency Response Task Force Meeting' at the Bank of Korea in Jung-gu, Seoul. During the meeting, he reviewed the developments in the Middle East following the U.S. airstrike on Iran's nuclear facilities the previous day, as well as the potential impact on domestic and international financial and foreign exchange markets, and made the above statement.

Participants at the meeting assessed that, depending on the level of Iran's response in the future, global risk-off sentiment could intensify further. They also noted that instability in international oil prices and other factors could increase uncertainty regarding global economic and inflationary conditions. In response, Deputy Governor Yoo stated, "With heightened vigilance, we will closely monitor the developments in the Middle East and their impact on both domestic and international financial and economic conditions through a 24-hour monitoring system."