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Bank of Korea hikes key interest rate to 1.25% Updated: 2022-01-14 08:52:34 KST

South Korea's central bank has hiked its key interest rate to 1.25 percent, up 25 basis points amid rising global inflationary pressure.
The central bank came up with the decision, likely in response to rising consumer prices and household debt.
The move is on par with other major economies with some speeding up their policy tightening faster than expected.
Recently, the Federal Reserve strongly hinted at least three rate hikes this year.
The Bank of Korea's rate hike comes just two months after it raised it to 1-percent from the previous point-7-5 percent.

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