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BOK's latest rate hike to 1% expected to increase debt repayment burden on borrowers Updated: 2021-11-26 18:52:37 KST

The Bank of Korea's latest rate hike is drawing concerns over the burden it puts on borrowers.
The central bank raised the rate by 25 basis points on Thursday.
From this hike and the previous hike in August, the interest burden on households is expected to increase 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 that this could weigh on the country's consumption.
KOGL : Korea Open Government License
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