The Bank of Korea raised its benchmark interest rate for the first time in three and a half years, signaling that further rate increases are likely. This marks a departure from its long-standing accommodative monetary policy. The move is significant for South Korea's economy and may influence other central banks considering tightening.
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Bank of Korea raised interest rates for the first time in 3.5 years.
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BOK hikes rates for first time in 3-1/2 years, signals more
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