S. Korea's central bank lifts key rate to 3.25%, 6th consecutive hike

Economy

South Korea's central bank raised its benchmark interest rate by 0.25 percentage point to 3.25 percent on Thursday to battle high inflation amid a global economic slowdown. The Bank of Korea's monetary policy board has now lifted rates six times since August last year in its effort to boost the economy as it recovers from the coronavirus pandemic and tame inflation. Consumer price surged 5.7 percent in October from a year earlier due to price hikes in electricity, gas and processed food products, the bank said in a statement, though the increase in the prices of petroleum products has moderate...

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