Korea Hikes Rates on Inflation

SeoulKorea’s first rate hike in 3.5 years.

The Bank of Korea lifted rates to 2.75%, citing 3.2% inflation as Middle East conflict pushed fuel prices up 24.7%.

Governor Shin Hyun-song signaled another hike by October, with more expected through 2027.

Sources: Financial Times News, Yonhap News Agency