Tue, 07 Dec 2021

SEOUL, Nov. 25 (Xinhua) -- South Korea's central bank on Thursday raised the benchmark interest rate from 0.75 percent to 1 percent.

Bank of Korea (BOK) Governor Lee Ju-yeol and monetary policy board members decided to increase the seven-day repurchase rate by 25 basis points to 1 percent.

It followed the policy rate hike in August from a record low of 0.50 percent to 0.75 percent.

The rate hike was in line with market expectations. According to a survey of 100 fixed-income experts by the Korea Financial Investment Association (KFIA), 90 percent predicted the rate increase.

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