Their real economies also slipped into recessions, as their exports shrank rapidly owing to the contraction of import demand in advanced countries. The Bank of Korea's policy response and its effects Ladies and gentlemen, The Bank of Korea eased its monetary policy aggressively, to soothe the financial market unrest and ward off a sharp contraction of the real economy.
At the same time, many of the policy measures taken in recent months with a view to supporting specific segments of the economy need to be phased out in a timely manner. We are now at your disposal for questions. 4  BIS Review 68/2009