Economics
Bank of Korea Raises Rate to 3% as Prices Breach Target
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The Bank of Korea raised interest rates for the second time this year after inflation exceeded its target ceiling for two consecutive months.
Governor Kim Choong Soo boosted the benchmark seven-day repurchase rate to 3 percent from 2.75 percent, the central bank said in a statement in Seoul today. The decision was predicted by all 15 economists surveyed by Bloomberg News.