SEOUL : The Bank of Korea raised its policy rate for the first time in almost three years on Thursday, becoming the first major Asian central bank to shift away from pandemic-era monetary settings as surging household debt created new threats for the economy.
Most central banks that have raised rates this year are among emerging economies, concerned about capital flight and imported inflation. In Asia, Sri Lanka raised rates last week, making it the first in the region to do so. "There are good reasons to expect tightening to continue over the coming quarters," said Alex Holmes, an analyst at Capital economics said after the rate decision.
Source: Financial Digest (financialdigest.net)
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