[Breaking] BOK hikes key rate by 0.25% point for first time in more than 6 yrs
Published : Nov 30, 2017 - 09:57
Updated : Nov 30, 2017 - 09:57

South Korea's central bank on Thursday raised the key rate by a quarter percentage point for the first time in more than six years amid clear signs of an economic recovery.


In a widely expected move, the monetary policy board of the Bank of Korea voted to increase the base rate to 1.5 percent from a record low of 1.25 percent, ending 16 straight months of its wait-and-see stance after the last rate cut made in June last year.

It also marked the BOK's first monetary tightening action since June 2011, when the central bank raised the rate by 0.25 percentage point to 3.25 percent. (Yonhap)