Bank of Korea's Rhee Maintains Hawkish Bias Following Interest Rate Hold

The Bank of Korea stuck resolutely to its hawkish stance of holding interest rates while warning of the possibility of more hikes to come as it battles to rein in consumer inflation without derailing the economy.

The central bank kept its seven-day repurchase rate at 3.5% on Thursday for the fourth-straight meeting as predicted by all 15 economists surveyed by Bloomberg News. The BOK pledged in its statement to keep a restrictive policy stance for a “considerable time with an emphasis on ensuring price stability.”

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