BoK delivers hawkish hold
Shin says previous hikes provided room for pause, though tightening would continue amid heightened inflation
The Bank of Korea paused its tightening cycle today (October 22) after two consecutive hikes earlier this year. The central bank signalled it would maintain a hawkish stance because inflation remained elevated and global factors were uncertain.
The BoK’s board unanimously voted to maintain its benchmark policy rate at 3%, the central bank said in a statement. Speaking after the decision, governor Hyun Song Shin said that although the South Korean economy was expected to continue to grow robustly
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