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July 06, 2022

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BOK eyes bumper rate hike as inflation hits 24-year high
BOK eyes bumper rate hike as inflation hits 24-year high
The Bank of Korea is emboldened to raise its benchmark rate by 50 basis points for the first time next week, as consumer prices in June increased 6 percent from a year earlier, the highest level since November 1988, when they jumped 6.8 percent on-year. Data from Statistics Korea released Tuesday found the June consumer price index topped the 5.4 percent marked in May, in line with the central bank chief’s earlier warning that prices would rise faster in June than in May. The chief, who d
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