Bank of Korea raises rates to highest level since 2012
Governor says board expects to continue increasing rates “for some time”
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
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@centralbanking.com or view our subscription options here: http://subscriptions.centralbanking.com/subscribe
You are currently unable to print this content. Please contact info@centralbanking.com to find out more.
You are currently unable to copy this content. Please contact info@centralbanking.com to find out more.
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Printing this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@centralbanking.com
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Copying this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@centralbanking.com
More on Monetary Policy
PBoC withdraws liquidity and holds key rate
Policy-makers refrain from easing despite weak inflation and exports data
Taking stock of Bernanke: the original sin of forecasting
Jagjit Chadha says the Bernanke review should be the start of more profound discussion at the BoE
Peru’s board cuts interest rates by 25 basis points
Central bank says inflation should continue falling towards centre of target range
South Korea keeps monetary policy unchanged
Board says it would be premature to expect inflation to fall to target level despite improvement
Singapore leaves monetary policy settings unchanged
Core inflation likely to start falling in fourth quarter and continue next year, MAS says
Bernanke calls for total redesign of BoE forecasting
Report calls for major changes to infrastructure, core models, staffing, communications and more
ECB holds rates as Lagarde hints at possible June change
Some governing council members wanted rate cut now, says ECB president
Bank of Thailand holds rate despite PM’s call for cuts
Monetary policy committee expresses concern on elevated debt levels
Most read
- Fixing forecasting at the Bank of England
- Bernanke calls for total redesign of BoE forecasting
- Bank of England: time for fourth-generation forecasting tools?