Accordingly, its conduct of monetary policy has been made more difficult. In the case of Korea, we have raised our policy rate seven times since October 2005. Nevertheless, the scale of increase in our long-term interest rates has been limited, and our monetary stock has continued to expand at a higher-than-expected rate.
For a profession that has done so much for the world as we know it, both good and bad – and perhaps also very bad, the view is gaining ground that the orthography of the word “banker” does not do full justice to the complexity of the profession.