BOK Freezes Interest Rate over Inflation Fears


    October 12, 2021 12:46

    The Bank of Korea on Tuesday froze the base rate at 0.75 percent again after hiking it by a quarter percentage point in August.

    The central bank cited the need to control the risk of inflation.

    The bank said it favors "a gradual adjustment of monetary policies as the domestic economy is expected to continue growing and inflation to rise above two percent despite uncertainties due to the coronavirus pandemic."

    But it hinted at an additional hike at some point in the near future to prevent financial instability. 

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