Therefore, we should conduct our policy more elaborately in  1/5  BIS - Central bankers' speeches  overall consideration of downside risks to growth, financial stability risks, and monetary policy changes in major economies, including the U.S. Federal Reserve, while closely monitoring the pace of slowdown in consumer price inflation going forward.1 As you may well recall, amid the U.S. Federal Reserve's acceleration of its stance of monetary policy tightening in the second half of last year, the Korean won to U.S. dollar exchange rate surged.
And then to make matters worse, the default of a Legoland developer occurred on top of that, deepening the stress in domestic financial and foreign exchange market.