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South Korea’s central bank has announced its first-ever half-percentage-point rate increase, joining the aggressive policy tightening by the U.S. Federal Reserve and other central banks to tackle high inflation. Analysts forecast more rate increases down the road.
The Bank of Korea raised its benchmark seven-day repurchase rate by 50 basis points — rather than its usual 25 basis points — to 2.25% on Wednesday, increasing the rate for a third consecutive meeting and its sixth rate increase since August 2021.
Twenty…
