South Korea and Singapore tighten monetary policy

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South Korea and Singapore tightened monetary policy today (April 14), as inflation rises above expectations. 

The Bank of Korea raised its base rate by 25 basis points, from 1.25% to 1.50%. “Currently available information suggests that inflation has accelerated,” the board said.  

The central bank is currently without a governor. Lee Ju-yeol’s term ended March 31 after eight years in the role. South Korea’s president nominated Rhee Chang-yong, currently director of the International Monetary

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