[2026 National Assembly Audit] "'Government's Overreaching Policies Must Be Curbed,' He Urged... Shin Hyunsong: 'I Will Carry Out Monetary Policy Without Wavering'"

"Coordination between monetary and fiscal policies is important"

Bank of Korea Governor Shin Hyun-song said on the 12th, "I will ensure that monetary policy is conducted independently, without being swayed in the slightest."

Shin Hyun-song, governor of the Bank of Korea, answers lawmakers' questions during a parliamentary audit of the central bank by the National Assembly's Finance and Economy Planning Committee at the Bank of Korea in Jung-gu, Seoul, on the 12th. Joint coverage by Yonhap News.

Governor Shin responded this way at the parliamentary audit of the Bank of Korea by the National Assembly's Finance and Economy Planning Committee, held at the central bank in Jung-gu, Seoul, that day. He was responding to a request from Rep. Kim Sang-hoon of the People Power Party, who said, "The Bank of Korea should put the brakes on the government when it rashly pursues overly aggressive policies and should be able to play a role in presenting a new direction."

Governor Shin said, "When interest rates rise, vulnerable borrowers are especially the ones who struggle most," adding, "Support through fiscal policy that is coordinated with monetary policy will be very important." He said, "The government also announced policies for vulnerable borrowers through its economic growth strategy for the second half of the year," and added, "We are communicating closely with the government."

In response to Rep. Kim's request that the Bank of Korea also take an active role in proposing its own solutions to the increased financial cost burdens faced by small business owners, self-employed people, and small and medium-sized enterprises following the base rate hikes in July and August, Governor Shin replied, "Understood."

This content was produced with the assistance of AI translation services.