Bank of Korea raises rates to highest level since 2012
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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