SEOUL : South Korea's central bank raised its policy interest rate by 25 basis points on Friday, making a widely expected move that many economists also predicted would mark the end of a tightening cycle that began in 2021.The Bank of Korea said its seven-member monetary policy board had decided to raise
SEOUL : South Korea's central bank raised its policy interest rate by 25 basis points on Friday, making a widely expected move that many economists also predicted would mark the end of a tightening cycle that began in 2021.
Financial markets showed a muted reaction ahead of the central bank governor's news conference. Three-year treasury bond futures stood 8 ticks above the previous close and the won was 0.75 per cent firmer against the dollar. Friday's decision marked the 10th interest rate rise since the current tightening cycle began in August 2021 and brought the total amount of increase to 300 basis points.
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