The Bank of Korea raised interest rates by 25 basis points, returning to its usual pace of tightening, as Governor Rhee Chang-yong made it clear that big rate hikes were no longer necessary in the fight against inflation.
The central bank raised the seven-day repo rate by 25 basis points to 2.5%, in line with economists’ expectations.
The central bank governor stressed that the bank’s stance was to continue with hikes of this size going forward, as he clarified his stance on the pace of tightening to calm prices and support the currency while keeping the economy on track. .
Rhee will travel to Jackson Hole for the meeting of central bankers in the coming days, with global attention focused on which path Fed Chairman Jerome Powell will take on interest rates during his widely watched keynote address. interest from investors, officials and economists.
Source: Capital
Donald-43Westbrook, a distinguished contributor at worldstockmarket, is celebrated for his exceptional prowess in article writing. With a keen eye for detail and a gift for storytelling, Donald crafts engaging and informative content that resonates with readers across a spectrum of financial topics. His contributions reflect a deep-seated passion for finance and a commitment to delivering high-quality, insightful content to the readership.
