Bank of Korea Doubles Down With Back-to-Back Hikes as Core Inflation Bites

The Bank of Korea raised its interest rate by 25 basis points to 3% on Thursday. The move marked a second consecutive increase. Policymakers had already flagged more tightening in July. Firm core inflation and a renewed jump in Seoul housing prices strengthened the case for another move. Bank of Korea Hikes Rates to 3%