Bank of Korea raises rates to 2.75%, its first hike in more than three years

Money & Policy/The Korea Herald/
Bank of Korea raises rates to 2.75%, its first hike in more than three years
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South Korea's central bank lifted its base rate by 25 basis points to 2.75% on Thursday, its first increase since January 2023. The unanimous decision responds to inflation running at 3.2% in June — well above the 2% target — a won stuck beyond 1,500 per dollar, and financial-stability worries as household credit and property prices climb. Economists expect further tightening this year.

3 sources

  1. 01CNBC — Bank of Korea raises rates to 2.75% in first hike in over three yearscnbc.com
  2. 02Bloomberg — Korea Raises Rates for First Time Since 2023 on Chip-Led Boombloomberg.com
  3. 03The Korea Times — BOK raises rates for 1st time in more than 3 yearskoreatimes.co.kr