South Korea's central bank raised interest rates on Thursday by 25 basis points to 0.75%.
Analysts pointed to financial risks pressuring the economy, such as heating up house prices and rising household debt.South Korea's central bank raised interest rates on Thursday, in a decision that was expected as financial risks heat up despite the virus threat.
The Bank of Korea raised its policy rate by 25 basis points to 0.75%, becoming the first developed economy to hike rates in the pandemic era.South Korea's benchmark index Kospi fell 0.18% following the announcement. The Korean won strengthened slightly. Most central banks globally have slashed rates to record lows in a bid to prop up their pandemic-hit economies. From the
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