Choi Sang-mok "Prospect to expand short-term volatility...Need a calm response"

[Anchor]
U.S. Treasury yields and the dollar rose sharply early this morning as international financial markets accepted the meeting's results as tightening despite a rate cut by the U.S. Federal Open Market Committee.

Deputy Prime Minister Choi Sang-mok emphasized a calm response, saying that volatility in the Korean financial and foreign exchange markets is likely to expand in the short term.

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[Choi Sang-mok / Deputy Prime Minister and Minister of Strategy and Finance: The Korean financial and foreign exchange markets are also expected to see increased volatility in the short term, as major currencies around the world have weakened significantly. However, excessive leaning in one direction may involve a large reaction in the opposite direction in the future. As a result, it is time for market participants to respond calmly. The government and the Bank of Korea will continue to operate the 24-hour financial and foreign exchange market inspection system with high vigilance and implement additional market stabilization measures boldly and quickly in case of excessive volatility.]

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video: Eunkyung Lee