January 30, 2020 / 12:29 AM / 18 days ago

South Korea central bank official: premature to decide on rate cuts to counter virus impact

FILE PHOTO: The logo of the Bank of Korea is seen on the top of its building in Seoul, South Korea, July 14, 2016. REUTERS/Kim Hong-Ji/File Photo

SEOUL (Reuters) - South Korea’s central bank said on Thursday that it is premature to say whether the potential impact from the new coronavirus should be countered with further easing.

“The bank will closely monitor markets amid the coronavirus outbreak and will watch its impact on the economy with caution,” the Bank of Korea’s senior deputy governor Yoon Myun-shik told reporters, adding that it is too early to comment on impacts from the outbreak on the economy and financial markets.

The bank holds its next policy meeting on Feb. 27.

Reporting by Joori Roh; Editing by Shri Navaratnam

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