(Adds quote, other comments)
SEOUL, April 24 (Reuters) - The head of South Korea's
central bank said on Monday some short-term interest rates had
fallen more than he had expected, adding it was probably due to
a shift in funds en masse in search of quick profit.
Bank of Korea Governor Rhee Chang-yong also told reporters
the central bank's monetary policy tightening since late 2021
had had an effect when considering recent cooling trends in the
real estate market and household borrowing.
"Interest rates for one- or three-month terms have fallen a
little bit more than I had expected, and so, I think we need to
look into it," Rhee said when he stopped by the bank's media
office on the occasion of the completion of renovation work.
He did not say what the bank would do with short-term
interest rates, which have fallen mainly on the widely held
perception that the its tightening cycle is over as both
inflation and economic growth have continued to soften.
He also said he did not expect U.S. and South Korean leaders
to discuss reviving a currency swap arrangement between their
central banks at their summit later this week.
(Reporting by Seunggyu Lim; Writing by Choonsik Yoo; Editing by
Toby Chopra and Christopher Cushing)
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