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Financial News: South Korea's Central Bank To Provide Unlimited Liquidity

South Korea's Central Bank To Provide Unlimited Liquidity

03/26/2020 - 02:50:00 (RTTNews)

(RTTNews) - South Korea's central bank on Thursday said it will provide unlimited amount of money for three months through repo operations, in order to introduce more funds into the money market.

The Bank of Korea will conduct auctions every week to stabilize financial markets. The bank has widened the targeted financial institutions and securities for the operation. The latest measure is expected to minimize the economic fallout caused by the spread of coronavirus, or covid-19.

At an emergency meeting, the bank had earlier decided to cut the base rate by 50 basis points to a record low 0.75 percent.

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