South Korea aiming for rate hike as growth recovers

Bank of Korea building in Seoul

South Korea is seeing a strong recovery as its GDP hit a robust annual growth rate of 5.9% in the second quarter, missing the market projection of 6% by inches, the Bank of Korea announced on July 27.

The recovery could open up the possibility of a rate hike as soon as August, as central bank officials have indicated a preference for tightening.

However, second-quarter GDP was 0.7% when compared with three months earlier, a slowdown from the previous quarterly growth of 1.7%. The quarterly

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