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المشهد العربي
Bank of Korea hikes rates to 3 percent
The Bank of Korea has raised interest rates for the second consecutive time to 3%, aiming to contain the wave of inflation that reached its highest level since December 2023 at 2.6% in July. The decision involved an increase of 25 basis points, the highest rate since January 2025. While the economy has benefited positively from growth in the semiconductor and artificial intelligence sectors, it is still facing persistent inflationary pressures due to fluctuating oil prices, exchange rates, a rebound in domestic spending, and wage increases.
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