Bank of Korea raises rates to highest level since 2012

Bank of Korea, Seoul
The Bank of Korea

South Korea’s central bank raised its benchmark interest rate today (November 24) by 25 basis points to 3.25%, its highest level since July 2012.

The Bank of Korea’s seven-member monetary policy board unanimously voted to raise the policy rate, a step down from its 50bp increase on October 12.The BoK has raised interest rates by a total of 275bp since it started its tightening cycle in August 2021.

Consumer price inflation was 5.7% year-on-year in October, up from 5.6% in September. The BoK

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