Moreover, we need to seek ways to improve the monetary policy framework. It is well-known that low interest rates and low inflation have been prolonged and the relationship between growth and inflation has weakened since the global financial crisis. In response to this changing environment, the Fed has recently changed its  6 / 9  monetary policy strategy, focusing more on employment stability.
While Korea is experiencing structural changes not unlike those in major countries, our situation calls for more attention on financial stability. Therefore, we need to examine the performance and limits of the current monetary policy framework, and review whether there is a more effective way of operating it tailored to our circumstances. Dear members of the Bank of Korea!