Economy
BOK likely to freeze base rate after 18 months of hikes
Feb. 20, 2023
With the Bank of Korea set to hold its rate-setting meeting on Thursday, the market is expecting a freeze to the base interest rate for the first time in a year and half, marking an end to its rate hike cycle. The central bank, with its base rate standing at 3.5 percent, has been leading an aggressive monetary tightening policy, continuously raising the key rate since August 2021 to tamp down soaring prices. The market, however, expects the central bank to take a pause this month, considering th