South Korea Raises Interest Rate to 2.75% in First Hike Since 2023 as Inflation Climbs
The Bank of Korea (BOK) has increased its benchmark interest rate by 25 basis points, raising the base rate from 2.50 percent to 2.75 percent in its first monetary policy tightening since January 2023. The decision, announced after the central bank’s Monetary Policy Board meeting on July 16, 2026, comes as South Korea grapples with…
