The Bank of Korea will provide unlimited liquidity for three months

category:Finance
 The Bank of Korea will provide unlimited liquidity for three months


South Korean Central Bank officials also said the measure is to support the governments large-scale financial support policy. The 24 announcement of novel coronavirus pneumonia announced that it plans to increase the emergency financial support fund to 100 trillion won (about 81 billion US dollars) to help enterprises cope with the impact of the new crown pneumonia and ease the pressure of liquidity.

South Korean media called the measure unlimited quantitative easing and unprecedented in South Korea. During the Asian financial crisis in 1997 and the international financial crisis in 2008, the Korean Central Bank did not take this approach.

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Source: editor in charge of Xinhuanet: Zhong Qiming