BOK Chief Says BOJ Move Monitored Carefully

11/3/2014 5:09:32 AM

(MENAFN- Qatar News Agency) Seoul November 03 (QNA) - Bank of Korea (BOK) Governor Lee Ju-yeol said Monday he is closely observing the impact of Japan's further monetary easing that he said came earlier than expected South Korea's News Agency (Yonhap) reported.

The additional monetary easing came earlier than market expectations. Lee also told reporters on the sidelines of a conference jointly hosted with the International Monetary Fund BOK was monitoring the situation focusing particularly on currency.

On Friday the Bank of Japan (BOJ) announced further monetary easing sending the yen sharply lower against the US dollar and also bringing a sharp slide in the Korean won against the greenback.

The Japanese central bank said it will jack up its asset purchases by up to 20 trillion yen to some 80 trillion won in order to boost the sagging growth in the world's No. 3 economy. (QNA)

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