The central bank may soon raise rates again, Bank of Korea Gov. Lee Ju-yeol said Tuesday after the monetary policy board voted to maintain the base rate at 0.75 percent.
The Bank of Korea (BOK) held Korea's benchmark interest rate at 0.75 percent Tuesday, despite previous signaling of another rate hike this year.
The Kospi fell on-quarter in the third quarter for the first time since the first quarter of 2020 on concerns of monetary tightening at home and abroad.
The Bank of Korea stressed the need to further raise the country's key interest rate to resolve worsening financial imbalances in its financial stability report published Friday.
The Bank of Korea (BOK) raised Korea's benchmark interest rate by 25 basis points to 0.75 percent Thursday, hoping to slow snowballing household debt.
The central bank raised Korea's benchmark interest rate by 0.25 percentage points to 0.75 percent Thursday.
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One member of the Bank of Korea’s seven-member monetary policy board dissented at the rate-setting meeting Thursday, arguing that the base rate should be taken from the historic low 0.5 percent to 0.75 percent.
The central bank maintained Korea’s benchmark interest rate at 0.5 percent Thursday.