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S. KOREA'S CENTRAL BANK URGES STABILITY IN HOUSING MARKET.
SEOUL, Jan 1 Asia Pulse - South Korea's central bank will move to sustain the pace of economic growth and stabilize consumer prices next year, while keeping a close eye on the housing market, the governor of the Bank of Korea (BOK) said Sunday.
"In 2007, the BOK will manage the interest rate in a flexible way to sustain economic growth while keeping consumer prices stable," Lee Seong-tae said in his New Year's message.
The central bank would also check the money supply and strengthen its monitoring of the asset market, he said, a comment seen as targeting soaring house prices.
In late 2006, the BOK sought to rein in the money supply as housing prices soared in Seoul and areas near the capital.
According to Kookmin Bank, South Korea's housing prices rose at their fastest pace in more than 16 years in November.
In that month, the central bank raised ...
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