SEOUL, July 13 ― South Korea's central bank today delivered a historic half-point interest rate hike to tame fast-growing inflation, particularly soaring energy costs linked to the war in Ukraine.
The decision comes as Asia's fourth-biggest economy recovers from a Covid-induced slowdown while struggling with rising fuel and raw material prices. While South Korea's exports remain a major driver of economic growth, the country posted a trade deficit for the second consecutive month in May as a result of rising import costs, according to government data.
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