South Korea’s central bank raised interest rates by a more modest 25 basis points, slowing the pace of policy tightening as it tries to tame inflation without choking off economic growth. | Reuters
Since then, it has raised rates by a total of 275 basis points, delivering bigger 50-basis-point rate hikes for the first time since the current monetary framework was introduced in 1999. It hiked rates by that amount in July and October.
South Korean consumers are among the world’s most-indebted, property prices fell at their sharpest rate in at least two decades in October, while exports suffered their biggest drop in over two years. The won has rebounded more than 7 percent from a 13-year low against the dollar touched in late October.
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