South Korea central bank delivers back-to-back rate hike, as expected
The logo of the Bank of Korea is seen in Seoul, South Korea, November 30, 2017. REUTERS/Kim Hong-Ji
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SEOUL, Aug 27 : The Bank of Korea raised its benchmark interest rate by a quarter percentage point to 3.00 per cent on Thursday, as expected, delivering a second straight increase as inflation stays above target while financial stability risks persist.
The seven-member monetary policy board at the BOK voted to raise the seven-day repurchase rate by 25 basis points, a decision predicted by 18 of 35 economists surveyed in a Reuters poll.
Governor Shin Hyun Song will hold a press conference at 0210 GMT.
Source: Reuters
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