South Korean central bank raised benchmark interest rate by 50 basis points to 2.25%, the biggest hike since the bank adopted the current policy system in 1999
The CPI rose 5.4% in May from a year before, according to Statistics Korea data, faster than the 4.8% rise the previous month and above the 5.1% tipped in a Reuters poll
The South Korean central bank increased the key rate by 25 basis points to 1.75% on Thursday
South Korea's inflation rate jumped by 4.8% in April, raising expectation of further interest rate rises by the country's central bank
Futures on treasury bonds rose after the announcement, aimed at fighting surging inflation, while the won barely moved against the US dollar
The uncertainty includes a quicker normalisation in the US Federal Reserve's monetary policy, the economic slowdown in China and the Ukraine war
Inflation has now exceeded the central bank’s 2% target for eight straight months
Economy grew 4% in the third quarter thanks to robust exports of semiconductors and petrochemical products
Financial services group says 'structural headwinds' and interest rate rises are likely to generate deflationary outcomes.
The Bank of Korea became the first major Asian central bank to shift away from pandemic-era monetary settings amid fears that Asia's fourth largest economy is overheating
South Korea’s central bank is determined to keep a lid on interest rates for now despite optimism about...