STORY CONTINUES BELOW THESE SALTWIRE VIDEOSSEOUL - South Korea's central bank said on Thursday it needs to make coordinated efforts to contain household debt, which is at levels that could undermine economic growth and financial stability.
"As financial imbalance must be managed below a certain level for stable growth in the mid- and long-term, it is necessary to continue making steady efforts for adjustment," the BOK said. The BOK said in the report it was more effective for macro-prudential policy to coordinate with monetary policy than for policy responses to be made in isolation.
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