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S Korea Government To Closely Watch Impact Of BOK Hike On Markets – Official
SEOUL -(Dow Jones)- The South Korean government will closely monitor how the Bank of Korea’s 25 basis-point rate hike affects the local financial markets, a senior official at the Ministry of Strategy and Finance said Friday.
“The BOK’s rate hike today is likely aimed at curbing inflation risk ahead preemptively. The government respects its decision and will closely watch how financial markets react to the rate hike,” Yoon Jong-won, director general of the finance ministry’s economic policy bureau told Dow Jones Newswires.
Earlier in the day, the BOK unexpectedly raised its benchmark interest rate to 2.25% after standing pat for 16 months.
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