Dear fellow members of the Bank of Korea,  BIS central bankers’ speeches  1  I would like to touch now on the tasks that we will need to focus on from the latter half of this year. Moving forward we must maintain our accommodative monetary policy stance, with a focus on revival of the domestic economy.
It will be fatal for a country to liberalise its financial systems and to encourage the integration of its domestic financial markets into the global system, and then to balk at the disciplines of these markets. 5. Financial institutions without exchange controls Many South African financial institutions have already taken up the challenge of becoming part of the international financial community.