Key facts
- The Bank of Korea increased its benchmark interest rate by 0.25 percentage points.
- The new benchmark interest rate is 3.00%.
- This is the second consecutive monthly rate hike by the central bank.
- The decision was made to address inflation and rising home prices.
The Bank of Korea raised its benchmark interest rate by 0.25 percentage points to 3.00% on Thursday. This marks the second consecutive monthly hike by the central bank. The decision comes as authorities seek to curb persistent inflation and address rising home prices in the country. The move signals a continued tightening of monetary policy aimed at stabilizing the economy.