Globalisation hinders effective monetary policies in smaller economies, argues governor Lee

Globalisation has made monetary policy more difficult, according to the governor of the Bank of Korea.

The integration of domestic and foreign financial markets has led to difficulties in the practical conduct of monetary policy, according to the governor and chairman of the Bank of Korea.

While globalisation has eased upward pressures on global prices, allowing the central banks to control inflation, Seong-Tae Lee argued that low interest rates worldwide have caused problems that require immediate attention. “We have seen worsening global imbalances and sharp rises in house prices in many

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