Even when the financial markets and real economic conditions recover from this crisis, there is a need to devise means of preventing financial institutions from becoming locked into excessive competition for asset growth.
There should also be a keen awareness that the accommodative monetary and fiscal policies implemented to tackle this crisis could impose a burden on the economy in the medium- and long-term horizon. My dear colleagues, I would now like to talk about what the Bank of Korea should promote as its top priority in the second half of this year and beyond.