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Bank of Korea faces internal splits over rate outlook
The minutes of the latest Bank of Korea monetary policy meeting revealed a divergence of views among policymakers, as the decision to raise interest rates was not unanimous as some had anticipated. The rate was increased by 25 basis points following a vote of six in favor and one against, reflecting an internal split that could influence the bank’s future decisions. There are concerns that continued monetary tightening might worsen default risks, while the strength of the local currency provides the bank with a period of assessment before taking additional steps. Current expectations suggest only one more rate hike before holding steady, with close monitoring of officials’ statements and their impact on financial markets.
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