South Korea Raises Interest Rates to Combat Inflation and Won Weakness
The Bank of Korea has raised its benchmark interest rate for the first time in over a year, ending a pause in monetary policy. The move aims to combat mounting inflationary pressures, the prolonged weakness of the won, and concerns over energy import reliance, with some reports linking it to the Iran war.
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South Korea raises rates to battle inflation pressure from Iran war
Central bank’s first move under Shin Hyun-song comes amid concern over won weakness and reliance on energy imports
Read full article →BOK hikes rate after yearlong pause
The Bank of Korea on Thursday raised its benchmark interest rate for the first time since May 2025, ending a pause in monetary policy that had persisted for more than a year, as mounting inflationary pressures and the prolonged weakness of the won strengthened the case for further monetary tightening. The Monetary Policy Board agreed to raise the benchmark interest rate by 0.25 percentage point, bringing the base rate to 2.75 percent. The decision came as surging global oil prices triggered by t
By The Korea Herald
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