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Inflation: South Korea raises rates to tackle price rises

  • Sun Online Desk
  • 25th November, 2021 03:35:48 PM
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Inflation: South Korea raises rates to tackle price rises

Popular News

South Korea's central bank has put up interest rates for the second time this year amid concerns over higher prices and rising household debt, BBC reported.

The Bank of Korea's quarter of a percentage point hike to 1% was widely expected by economists.

It is the latest central bank to make such a move as policy makers try to balance the post-pandemic recovery and rising inflation.

New Zealand raised rates for the second time in as many months on Wednesday.

"The Korean economy has continued its sound recovery," the Bank of Korea said in a statement.