Bank of Korea increases interest rates for first time in over three years
The central bank of South Korea has lifted its benchmark interest rate for the first time in three and a half years, citing concerns over inflation. A 25-basis-point hike brought the rate to 2.75%, with officials noting that inflation is likely to stay elevated for a significant period. Additionally, the bank indicated that the nation’s economic growth is projected to surpass its previous estimate of 2.6%.
by shortkt.com✓