Rhee Chang-yong, governor of the Bank of Korea, was asked at a press briefing after the the Bank of Korea's monetary policy committee's regular meeting on the 15th whether "a rate increase would help stabilize home prices," and stated accordingly.
Rhee said, "The base rate is one of the important factors that determine the real estate market, but supply and various other factors also play a role," adding, "If rates rise, it will act as a constraint on further activating the real estate market, but I do not think this alone will completely rein in real estate."
Rhee answered, "(To rein in real estate prices) I think a comprehensive government policy is needed."
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