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Bank of Korea Governor Signals Rate Hikes to Continue, Benchmark Rate at 2.75% on July 29

2026-07-29 05:51:45

According to Yonhapinfomax, Bank of Korea Governor Shin Hyun-song said on July 29 that maintaining an interest rate hiking stance to contain core inflation increases is reasonable. He indicated that the timing and magnitude of further rate hikes will be determined based on incoming economic data and conditions. The central bank raised its benchmark rate by 25 basis points to 2.75% on July 16. Governor Shin noted that core inflation reached 2.5% in May, with recent consumer price growth exceeding 3% due to international oil price surges and domestic demand pressures.

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