The Bank of Korea lifted its key interest rate by a quarter point for the second straight meeting to tackle high inflation.
At the first rate setting meeting of Governor Rhee Chang-yong, the Monetary Policy Board decided to lift the Base Rate by 25 basis points to 1.75 percent from 1.50 percent.
"The Board sees it as warranted to conduct monetary policy with more emphasis on inflation for some time, as the Korean economy is expected to continue its recovery and inflation to run above the target level for a considerable time," the bank said in a statement on Thursday.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.