BOK To Raise Rates On Thursday As Price Pressures Mount (RTRS Poll)

"South Korea's central bank will raise its key interest rate again on Thursday to fight inflation, according to a Reuters poll of economists, but they are divided on how high borrowing costs will be by the year-end."

• "Inflation in South Korea accelerated to an almost 24-year high in July of 6.3% and was expected to continue to rise for a few more months, leaving the Bank of Korea (BOK) with little choice but to remain aggressive."
• "All but one of the 36 economists polled Aug. 16-22 forecast the Bank of Korea will raise its policy rate by 25 basis points to 2.50% at its Aug. 25 meeting. One expected a 50 basis point hike. If the majority view prevails, it would take rates to twice where it was before the pandemic."
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