BOK's latest rate hike to 1% expected to increase debt repayment burden on borrowers
Updated: 2021-11-26 16:59:26 KST
The Bank of Korea's latest rate hike.. is drawing concerns over the burden it puts on borrowers.
A spike of 25 basis points on Thursday follows the previous increase in August.
The interest burden on households is expected to go up by more than five billion U.S. dollars.
Possible hikes next year are also projected to further raise interest rates on credit loans and mortgage loans, mostly affecting multiple-debt holders and those in their 20s and 30s.
Market watchers say this could weigh on the country's consumption.