The Bank of Korea raised its key interest rate to 2.75% for the… (корея · рост · цена)
The Bank of Korea raised its key interest rate to 2.75% for the first time since January 2023, citing rising inflation driven by higher oil prices and strong domestic demand, while also noting robust economic growth supported by exports and semiconductor production.
Consensus
- The Bank of Korea increased its key interest rate to 2.75%.
- The increase was a 25 basis point rise from the previous level of 2.5%.
- This marked the first rate hike since January 2023.
- Inflation in June reached 3.2% year-on-year, up from 3.1% in May.
- The Bank of Korea cited inflationary pressures from oil prices, agricultural sector, household credit growth, and exchange rate pressure.
- Economic growth is expected to exceed previous forecasts, with exports and semiconductor production contributing significantly.
Points of divergence
- The Bank of Korea's key interest rate increase was motivated by the need to control inflation due to ongoing Middle East conflict impacts on supply chains and oil prices. — kommersant
- Fuel prices rose 24.7% in June, the highest increase since July 2022. — kommersant
- The Korean won remained above 1,500 won per dollar during the previous month. — kommersant
- Export volume reached a record $102.25 billion in June, 1.7 times higher than June 2025. — kommersant
- Semiconductor exports nearly tripled to reach a record $44.82 billion. — kommersant
- The Bank of Korea expects high inflation for an extended period due to sustained spending effects, currency weakness, and gradual demand pressure from improved labor conditions. — interfax
- The Bank of Korea revised its full-year inflation forecast to 2.7%. — interfax
Coverage (2 sources)
- Korean Bank Raises Rates for First Time Since January 2023 — Интерфакс
- South Korean Central Bank Raises Key Rate for First Time in Three Years — Коммерсантъ