South Korea Appoints New Central Bank Head

South Korea’s President, Park Geun-hye, has nominated former bank deputy Lee Ju-yeol to succeed Kim Choong-soo as governor of the Bank of Korea on 1 April.

Mr Lee, 61, is a veteran official who will have the job of leading Asia’s fourth-largest economy.

South Korea’s parliament will hold a hearing on his nomination in the coming days.

However, parliament does not have the power to veto Mr Lee’s appointment.

Mr Lee first joined the central bank in 1977 and most recently served as Mr Kim’s deputy at the central bank until retiring in 2012.

He is widely seen as an advocate for ensuring that the bank’s rate decisions remain independent from government policies.

via BBC

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza