Bank of Korea (BOK) Governor Rhee Chang-yong said Monday the central bank will not expand liquidity that could fuel real-estate speculation, underscoring a cautious stance ahead of this week’s policy-rate meeting. Appearing before the National Assembly’s Strategy and Finance Committee, Rhee said housing prices cannot be stabilized “no matter how many homes are built” if population inflows into Seoul persist, adding that education and entrance-exam reforms are essential to easing demand pressures.

Rhee also said the BOK told the government it could raise $15 billion to $20 billion in foreign-currency funds “within a year” without disrupting the foreign exchange