Bank of Korea lifts key rate by half a point to fight inflation
Central bank also warns of high downside risks to the economy
South Korea’s central bank delivered today (July 13) its first-ever half percentage point interest rate hike to fight inflation that is rising at its fastest pace in since 1998.
The Bank of Korea raised its base rate by 50 basis points to 2.25%, the biggest increase since the bank adopted the current policy system in 1999. The hike today is the BoK’s third rate increase in a row, following 25bp hikes in April and May.
The central bank’s monetary policy board also raised the rate on the bank
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
Most read
- ECB says iPhone is currently incompatible with digital euro
- Supervisors grapple with the smaller bank dilemma
- Central bank of the year: Central Bank of Brazil