BOK to reduce issuance of monetary stabilization bonds in November
SEOUL, Oct. 28 (Yonhap) -- South Korea's central bank said Thursday it will scale down its monthly issuance of monetary stabilization bonds (MSBs) in November from a month earlier as part of efforts to improve investors' sentiment and ease volatility in the market.
The Bank of Korea (BOK) said it plans to sell 6.6 trillion won (US$5.6 billion) worth of MSBs next month, down from 9 trillion won worth of bonds scheduled to be sold this month.
The MSB is a policy tool devised to control excess liquidity in the markets. It is mainly issued by the BOK to financial institutions and individuals.
The BOK will also buy back 5 trillion won worth of the bonds next month, an amount larger than the usual 4 trillion won.
The moves are intended to enhance investors' sentiment and ease volatility in the financial market, the central bank said.
kokobj@yna.co.kr
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