The Bank of Korea raised the benchmark interest rate to 2.5%

Xinhua News Agency, August 25th (Reporter Lu Rui Sun Yiran) South Korea's Central Bank of Korea announced on the 25th that the benchmark interest rate raised the benchmark interest rate from 2.25%to 2.5%.

The Bank of Korea said in a statement on the same day that the risk of downward at home and abroad has increased, and the inflation rate continues to be high. It is necessary to take policy measures to prevent prices from rising.

The statement said that the price of South Korea is expected to exceed the target level in the future, so it is necessary to continue to increase interest rates.In the future, Korean monetary policy adjustment and timing will depend on factors such as inflation continuity, financial stability, changes in monetary policy, and geopolitical risks in major countries.

According to the prediction of Bank of Korea, South Korea's economic growth rate was 2.6%this year, lower than the previously expected 2.7%.In addition, South Korea's inflation rate is expected to be 5.2%this year.

In August 2021, the Bank of South Korea raised the benchmark interest rate from 0.5%to 0.75%, and increased to 1%in November of the same year.In January, April, May, and July of this year, the Bank of Korea raised interest rates in succession and raised interest rates to 2.25%.

[Editor in charge: Liu Xiaodong]

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