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1 results

  • 13 - Monetary Policy under Low Growth

  • from Part V - What Will Be the Challenge for Future Monetary Policy in Korea?
  • Woosik Moon, Seoul National University
  • Book:
    Monetary Policy and Central Banking in Korea
    Published online:
    17 February 2022
    Print publication:
    24 February 2022, pp 311-330

  • Summary

    As Korean growth slows down and interest rates fall close to zero per cent, the limits of the existing interest rate-based monetary policy become apparent and unconventional policy tools and instruments need to be newly developed. Against this backdrop, this chapter looks at the future challenges which will confront the BoK, and examines how the implementation of monetary policy can be improved by incorporating tools such as quantitative easing, forward guidance, and credit easing, in order to cope with the projected low growth and low inflation.