The Bank of Korea could become the first G20 country to hike rates since the outbreak of the global crisis, a report to the country's lawmakers suggested.
A report authored by the central bank obtained by Reuters, a newswire, suggested that the institution could raise borrowing costs from their current record-low level of 2% in order to quash a housing bubble.
The report said: "We will take proper steps [against rising property prices] including monetary policy if necessary, taking a look at con
- Central banks may be thinking wrongly about inflation – Borio
- European Commission announces supervisory agency reforms
- Bank of Russia will be able to handle fallout from failing banks, analysts say
- Riksbank outlines three visions of ‘e-krona’
- Uruguay’s digital currency pilot ‘close to launch’, says governor