South Korea's central bank lifted its key interest rates on Wednesday, citing tightening stance of the US Federal Reserve and stubbornly high inflation.
The Monetary Policy Board of the Bank of Korea decided to raise the Base Rate by 50 basis points to 3.00 percent from 2.50 percent, as widely expected.
Among seven members, two policymakers voted against the decision to raise the Base Rate by 50 basis points, proposing to hike it by 25 basis points.
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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.