S. Korea raises policy rate by 25 bps to curb inflation

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S. Korea raises policy rate by 25 bps to curb inflation

STORY: S. Korea raises policy rate by 25 bps to curb inflation DATELINE: Aug. 25, 2022 LENGTH: 0:01:33 LOCATION: Seoul CATEGORY: ECONOMY SHOTLIST: 1. Bank of Korea (files) 2. Bank of Korea (BOK) Governor Rhee Chang-yong (Yonhap TV) 3. a rate-setting meeting (Yonhap TV) 4. file footage of citizens shopping in mart (Yonhap TV) 5. file footage of U.S. dollar (Yonhap TV) STORYLINE: South Korea's central bank on Thursday raised its policy rate to curb inflation, delivering four back-to-back rate hikes for the first time. Bank of Korea (BOK) Governor Rhee Chang-yong and other monetary policymakers unanimously decided to lift the benchmark seven-day repurchase rate by 25 basis points to 2.50 percent. It marked the fourth consecutive rate increase for the first time, after hiking the rate by 50 basis points in July. The BOK set off its tightening monetary policy since August last year. The Thursday hike was in line with market expectations. According to a Korea Financial Investment Association poll of

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