The Bank of Korea said "current interest and exchange rates are detached from our economy's fundamentals and are showing excessive volatility," adding it "will take appropriate market-stabilizing measures if needed."
Yu Sang-dae, vice governor of the Bank of Korea (BOK), said this on the morning of the 9th at the "Middle East situation task force (TF) meeting."
The Bank of Korea (BOK) said, "At the end of last week, amid a sharp rise in international oil prices on concerns about a prolonged Middle East situation in global financial markets, risk-off sentiment increased significantly as weak U.S. employment indicators compounded the impact."
International oil prices, after rising in the 12% range at the end of last week, climbed further on the morning of the day and are now above $100 per barrel.
Vice Governor Yu said, "Going forward, we will continue to monitor developments in the current Middle East situation and its financial and economic impacts, and respond accordingly, with the 'Middle East situation TF' at the center."