Central Banks
Korean Land Minister Says Rate Cut Would Help Regional Economies
- Park sets Seoul apart from rest of nation in policy impact
- Uncertainty persists over timing of rate cut by Bank of Korea
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A policy easing by the central bank would likely provide a much-needed boost to South Korea’s housing markets outside of Seoul, while demand from deep-pocketed consumers in the capital should largely be unaffected by marginal rate moves, the country’s land minister said.
“People who are buying homes in Seoul will not be so sensitive to rates and these are people with big pockets,” Land, Infrastructure and Transport Minister Park Sang-woo said in an interview with Bloomberg on Tuesday.