Trial now
OPTIONS

Expiries for Dec06 NY cut 1000ET (Source DTCC)

RATINGS

Busy Ratings Slate

US TSY OPTIONS

BLOCK, March Quarterly Put Spd

MNI BRIEF: Bank Of Korea Hikes Policy Rate To 1% On Price View

MNI (Tokyo)
TOKYO (MNI)

The central bank expects the economic recovery from the pandemic to continue.

Sign up now for free access to this content.

Please enter your details below and select your areas of interest.

The Bank of Korea as expected on Thursday raised its policy interest rate to 1.00% from 0.75% amid persistent concern over the inflation rate, local news agencies reported.

The rate hike is the first since August, which was the first rate hike since November 2018, see: MNI STATE OF PLAY: Bank Of Korea Likely To Hike Key Rate To 1%.. South Korea's consumer price index rose 3.2% y/y in October for the highest level since January 2012.

The decision reflected the bank's view that the economy will not deviate from a recovery path despite the spread of coronavirus. Accumulated financial imbalances were also behind the rate hike. South Korea reported a new daily record of 4,116 new coronavirus cases on Tuesday.