Prime minister raises issue of interest rates going up

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Prime minister raises issue of interest rates going up

Prime Minister Lee Nak-yon said Thursday it’s time to consider raising interest rates.

Lee made the remark during a parliamentary interpellation session, saying that unless rates are hiked, it could lead to capital flight and other problems.

“I agree that it’s time to think more seriously [about raising interest rates],” he said

Korea’s key interest rates fell to a record low of 1.25 percent in June 2016 before they were adjusted up to 1.5 percent last November.


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