Lee Bok-hyun, "It would have been difficult to cut interest rates if the household loan trend had not been dampened."

Financial Supervisory Service Director Lee Bok-hyun pointed out that he had intervened excessively in bank lending rates, saying that it would have been difficult for the Bank of Korea to cut interest rates recently if it had not dampened household lending trends at the time.

Director Lee responded to the criticism of Democratic Party member Yoo Dong-soo during the parliamentary audit of the National Policy Committee today (17th) that interest rates should never go back and forth due to the FSS chief's remarks.

He said that the intervention method was not good, but explained that the banking sector's increased interest rates on household loans was not intended to reduce the size of loans, but rather to take advantage of the trend of profit growth, so he asked for thorough mortgage management.

He added that there was consensus on the economic team at the time, adding that he only came to play the role by chance.