Deputy Governor of the Bank of Korea: Need to make interest rate decisions more cautiously due to highly uncertain situation in Iran.

Park Jong Woo, Deputy Governor of the Bank of Korea, said at a press conference on Thursday that given the high level of uncertainty in the situation in Iran, the central bank needs to be more cautious when making interest rate decisions than before. He stated that the policy environment has changed significantly since the last Monetary Policy Committee meeting. The Middle East situation will have a considerable impact on future monetary policy, and the current uncertainty remains high, making it difficult to establish a "base case" for economic forecasts. The Bank of Korea's position remains consistent: if financial market volatility increases, it will implement market stabilizing measures; the central bank will also continue to take market response actions as necessary based on changing circumstances.