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BOK to buy 5 tln won worth of state bonds by end-year to stabilize market

All News 17:09 September 08, 2020

SEOUL, Sept. 8 (Yonhap) -- The Bank of Korea (BOK) said Tuesday it plans to buy state bonds worth 5 trillion won (US$4.2 billion) directly from the market by the end of this year in a bid to stabilize the debt market.

The move is aimed at tackling potential market jitters and easing a sharp rise in market rates in a preemptive manner as the government is expected to increase bond issuance, the BOK said in a statement.

The government plans to sell bonds to finance its emergency handouts in response to the COVID-19 pandemic.

sooyeon@yna.co.kr
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