S. Korea lifts interest rate for 1st time in nearly 3 years

Economy Society

South Korea's central bank raised its key interest rate on Thursday for the first time in two years and nine months, ending 15 months of a record-low rate. The decision to hike the benchmark rate by 0.25 percentage point to 0.75 percent, despite lingering economic uncertainties due to the coronavirus pandemic, comes as inflation continues and household debts surge. According to reports by local media, the bank is the first among major Asian central banks to hike its interest rate since the pandemic began early last year. The members of the Bank of Korea's monetary policy board voted to raise t...

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