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MNI BRIEF: Bank of Korea Raises Base Rate By 25bp to 3.25%

(MNI) Tokyo
(MNI) Tokyo

The Bank of Korea raised its base interest rate by 25bp to to 3.25% on Thursday as it maintained its resolve to tame inflationary pressures, Yonhap News Agency reported.

The downshift from the 50bp hike announced in October indicated the BOK took into consideration the slowing economy caused by the cumulative impact of the past rate hikes and weakening overseas and domestic demand. The next policy-decision meeting is scheduled for January 13, 2023.

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The Bank of Korea raised its base interest rate by 25bp to to 3.25% on Thursday as it maintained its resolve to tame inflationary pressures, Yonhap News Agency reported.

The downshift from the 50bp hike announced in October indicated the BOK took into consideration the slowing economy caused by the cumulative impact of the past rate hikes and weakening overseas and domestic demand. The next policy-decision meeting is scheduled for January 13, 2023.