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South Korea's central bank hikes base rate by 25bp, as expected. 1.5% to 1.75% now

South Korea's central bank hikes base rate by 25bp, as expected. 1.5% to 1.75% now

News
Eamonn Sheridan
26/05/2022 | 00:51 GMT
  • Bank of Korea rate hike

The rate hike was widely expected.

BOK revised forecasts:

  • see inflation to 4.5% this year, up from the previous projection 3.1%
  • see inflation at 2.9% in 2023, previously 2.0%
  • GDP +2.7% in 2022 (prior 3%) & +2.4% in 2023

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