South Korea Ramps Up Inflation Fight With Large Interest Rate Hike

South Korea Ramps Up Inflation Fight With Large Interest Rate Hike

13 Jul    Finance News

The Bank of Korea stepped up its battle against inflation now running at a 23-year high. The central bank raised its key interest rate by a half-percentage point to 2.25% on Wednesday. It’s its biggest increase since rates became the BOK’s primary monetary tool in the late 1990s. Min Joo Kang, senior economist at ING, discusses what the BOK’s decision means for the economy. She speaks with Haidi Stroud-Watts and Shery Ahn on “Bloomberg Daybreak: Asia.” (They began talking before the BOK announced its decision)

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