What the news says
The rate hike to 2.75% reflects efforts to manage price pressures in an economy running hot on chip exports. This move may influence capital flows and the USD/KRW exchange rate and signals a tightening cycle in Asia.
07/16, 09:28 AM
The Bank of Korea governor stated the central bank will respond until inflation aligns with its target level.
The Bank of Korea governor stated the central bank will respond until inflation aligns with its target level.
Affected assets
financialjuice
07/16, 09:28 AM
Related updates
LiveSquawk · 07/16, 08:04 AM
High impactThe Bank of Korea raised its policy rate by 25 basis points to 2.75%, marking the first hike since early 2023 amid a chip-led economic boom.
financialjuice · 07/16, 07:50 AM
Market reactionThe Bank of Korea raised its base rate by 25 basis points to 2.75%, matching market expectations.
jin10 · 07/15, 10:00 PM
Market reactionChinese domestic futures closed mixed overnight, with PTA down over 2%, synthetic rubber up over 1%, and plastic and soybean meal up nearly 1%.