Hikes in Asia as region shrugs off euro sovereign debt concerns


The Bank of Korea raised its benchmark interest rate on Friday for the first time since August 2008 after the IMF warned of increasing inflationary pressures in the economy.

The central bank's Monetary Policy Committee opted to raise its base rate by 25 basis points from 2% to 2.25% after it said it expected inflationary pressures to "build continuously" and demand-pull pressures to rise on the back of the continued upturn in economic activity. The central bank said consumer price inflation had

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