Deposit Rates Rise, Signaling Chain Increase in Loan Rates
Korean banks are raising deposit rates again amid expectations of a BOK base rate hike, with savings banks up 0.69%P in three months, signaling a chain increase in loan rates.
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South Korea’s central bank raises interest rates to 2.75%
The Bank of Korea raised its interest rates by 25 basis points for the first time in more than three years.
Bank of Korea raises base rate to 2.75% in first hike since 2023, with more to come
The rate hike signals a shift towards tighter monetary policy, potentially impacting economic growth, inflation control, and crypto markets.
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Bank of Korea set for first rate hike since 2023 as outlook strengthens
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