(Finance) – In South Korea in the Central Bank has decided a rate hike by 25 basis points, in response to persistent high inflation which, according to the institute’s indications, will remain the priority for some time. The cost of money was thus raised to 1.75%.
The central bank announcing the monetary policy decision explained that the move responds to “inflationary pressures that have remained highwhile the recovery of the global economy moderated with the war in Ukraine ei lockdown in China“.
In a note, the institution states that it will continue to conduct monetary policy to support the recovery and stabilize inflation over the medium term, also taking into account financial stability. The central bank has specified that “for some time it will put emphasis on price stability”.