Voted to raise the seven-day repurchase rate by 25 basis points to 2.75 percent to stabilise a slumping won and counter persistent inflationary pressure.
The rate hike aligns the BOK closely with regional neighbour the Bank of Japan, which recently raised its own benchmark rate to a 31-year high.
Central banks in Australia, New Zealand, Indonesia and the Philippines have also tightened their monetary policies
Median forecasts showed the BOK would raise its key rate to 3.25 percent in the first quarter of 2027 and keep it there until at least the end of next year.
Source: The Standard
https://www.thestandard.com.hk/finance/article/337372/
