The nation's Finance and the central banker plans to strengthen cooperation to address what they call the country's "complex economic risks."
Finance Minister Choo Kyung-ho, BOK Governor Rhee Chang-yong and other economic officials met on Monday, a day before the country releases its latest report on inflation.
They agreed the economic challenges facing the country are likely to last for some time.
The officials pledged to closely monitor and deal with any macroeconomic issues that could arise from higher interest rates.
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