Financial authorities hold meeting to monitor market situation in wake of Fed's recent rate hikeNov 04, 2022

Vice Chairman Kim So-young presided over a meeting with the FSS, financial industry groups and policy financial institutions on November 4 to review the impact of the U.S. Fed's recent 75bp rate hike on domestic money market and discuss the progress of the government's KRW50 trillion-plus liquidity support measures. At the meeting, Vice Chairman Kim asked authorities to maintain vigilance and swiftly carry out available measures, while closely monitoring market situations and seeking measures to help stabilize the real estate PF ABCP market. Vice Chairman Kim also said that authorities need to check financial market risks by adopting a longer-term perspective and maintaining close communication with the financial industry and prepare for risks in a preemptive manner.