January 4, 2018 / 1:16 AM / in a year

S.Korea cenbank chief says will only respond to currency if won moves significantly

SEOUL, Jan 4 (Reuters) - South Korea’s central bank chief said on Thursday the bank will leave currency moves to market forces, but would respond if moves in the won get too big.

“The stance on currency has not changed - we will respect that the market moves on supply and demand but the finance ministry and the Bank of Korea will stick to our principle, which is to take active steps when herd behaviour is seen,” Lee Ju-yeol told reporters on the sidelines of a meeting with South Korea’s finance minister in Seoul.

“Monetary policy is not decided on foreign exchange rates alone,” added Lee, responding to a question on whether the won’s current strength would affect the bank’s policies. (Reporting by Dahee Kim, Cynthia Kim, Christine Kim; Editing by Sam Holmes)

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