Chairman Kim Joo-hyun of the Financial Services Commission presided over a meeting with officials from related organizations on April 19 to go over financial market situations and discuss response strategies amid increased volatility in financial markets caused by uncertainties surrounding U.S. monetary policy and the ongoing crisis in the Middle East. On April 19, market movements showed rising volatility due to weakening expectation for Fed's interest rate reduction in the U.S. and the escalating conflict in the Middle East. However, since domestic bond market and short-term money market conditions remain stable, participants at the meeting shared a common view that the rise in market volatility will be temporary. Nonetheless, as there are continuing uncertainties regarding the direction of global interest rate movements and the conflict situation in the Middle East, FSC Chairman Kim urged officials to stay vigilant and make sure to have all necessary tools and contingency plans ready to ensure market stability. The FSC and the FSS will strengthen market monitoring and ensure prompt implementation of market stabilization measures if deemed necessary.