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BOK to host meetings of top regional central bankers and discuss cooperation

Economy 12:00 August 05, 2022

SEOUL, Aug. 5 (Yonhap) -- The Bank of Korea (BOK) said Friday it will host meetings of top central bankers and financial regulators from the East Asia and Pacific region early next week to discuss regional cooperation.

BOK Gov. Rhee Chang-yong will attend the Executives' Meeting of East Asia and Pacific Central Banks (EMEAP) to be held in Seoul from Sunday to Tuesday, according to his office.

The EMEAP was founded in 1991 to promote monetary cooperation and the exchange of information between the region's 11 central banks. The meeting has been held every year since it was inaugurated in 1996.

The participants are expected to discuss the impact that global monetary tightening could have on regional capital flows and foreign exchange rates during the first in-person EMEAP meetings in three years.

On Tuesday, Rhee and Lee Bok-hyun, chief of the Financial Supervisory Service, will co-chair a meeting of the EMEAP's Governors and Heads of Supervisory Authorities and discuss risk factors confronting financial markets, including cryptocurrency markets, the BOK said.

South Korea hosted the meetings of the EMEAP in 2000 and 2001.

kokobj@yna.co.kr
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