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Bank of Korea hikes key interest rate to 1%
Updated: 2021-11-25 09:01:15 KST
South Korea's central bank has hiked its key interest rate to one percent, up 25 basis points amid rising inflationary pressure.
The central bank's monetary policy meeting on Thursday likely came up with the decision in response to rising consumer prices and spiking household debt.
The hike comes only three months after the central bank raised its key interest rate to point-seven-five percent.
And this also marks the first time since March last year that the rate has risen back to the 1-percent mark.
The Bank of Korea had been keeping its key interest rate below 1-percent to weather the economic impact of the pandemic.
Reporter :