(Adds detail, quote)
SEOUL, May 2 (Reuters) - Most of the South Korean
central bank's board members cited concerns about the U.S.
banking sector's health as a major factor to keep interest rates
steady at their April 11 meeting, minutes showed on Tuesday.
While the collapse of U.S. lender Silicon Valley Bank had
only limited direct impact on local markets, "it is not time for
us to be able to loosen our sense of caution" given latent risks
domestically, one member said.
Five of the Bank of Korea's six board members included in
the minutes cited global financial instability resulting from
banking sector woes as a major factor behind their decision to
hold interest rates steady.
The minutes do not identify speakers and contains remarks of
six of the seven members, excluding the governor. The Bank of
Korea is now widely expected to keep rates steady or begin
cutting for the rest of this year.
The Bank of Korea next reviews its policy on May 25.
(Reporting by Choonsik Yoo
Editing by David Goodman)
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