Bank of Korea Governor: "Oil Price Cap Will Cause Fiscal Problems in the Long Term"
4 Articles
4 Articles
Bank of Korea Governor Shin Hyun-song expressed concern regarding fiscal sustainability concerning the government's expansionary fiscal stance and the maintenance of the oil price cap, recommending a cautious approach and the preparation of an exit strategy.
Bank of Korea Governor Shin Hyun-song expressed his conviction regarding government policies, stating that the growth effects of fiscal spending are limited and that the oil price cap could exacerbate price distortions and fiscal burdens. Governor Shin made these remarks on the 22nd, emphasizing fiscal sustainability following the Monetary Policy Committee's decision to keep the base interest rate unchanged at 3.00%. This marks a public assessme…
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