The South Korean Central Bank increased its policy rate by 25 basis points to 1.75 percent.
To fight inflation, the Central Bank of South Korea decided to raise interest rates again. The bank increased its policy rate by 25 basis points to 1.75 percent. It was the fifth rate hike decision since the summer of last year.
The bank also raised its inflation projections. South Korea’s Central Bank, which had previously seen 3.1 percent inflation for 2022, increased its expectation to 4.5 percent. The growth expectation for the same period was reduced from 3 percent to 2.7 percent.
