Monetary policy  In the light of the shifting economic environment, the Bank of Korea has conducted monetary policy so as to support the economic recovery while smoothing out the internal and external disequilibria.
BIS Review 42/2003  1  Early this year, because of the current account moving into the red and the upward price pressures brought about by the steep run-up of international oil prices, we had difficulties in making use of the interest rate policy lever to deal with the downturn in economic activities.