The governor of South Korea's central bank is warning that monetary policy tightening in advanced markets could trigger a rapid capital outflow from emerging markets... and result in global market instability.<br /> Speaking at the Bank of Korea's International Conference on Monday, Lee Ju-yeol said the Federal Reserve's rate hike policy and the strengthening U.S. dollar are already causing financial uncertainty in some emerging markets.<br />His comments come as the Fed is expected to raise U.S. rates again next week. <br />Citing how closely nations' financial markets and trade are connected, Lee said the chain of market effects could also affect South Korea's financial market. <br />To ensure safety, the BOK chief said he will cooperate closely with macroeconomic policymakers. <br />
