SEOUL: South Korea's central bank on Wednesday delivered a historic half-point interest rate hike to wrest control of inflation running at the fastest pace in 24 years.
Twenty-seven of 32 analysts expected the bank to go for an unprecedented half-point hike in a Reuters poll, while the remaining five expected a quarter-point hike. Wednesday's move keeps the BOK at the forefront of global monetary tightening as inflation threatens to become entrenched for a resource-poor nation grappling with surging energy prices, compounded by the war in Ukraine.
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