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S.Korea central bank chief says raising interest rates possible in November By Reuters

by Mike Robinson

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© Reuters. FILE PHOTO : FILE PHOTO : Bank of Korea Governor Lee Juyeol talks during a Seoul, South Korea news conference, November 30, 2017. REUTERS/Kim Hong-Ji/File Photo/File Photo

SEOUL (Reuters) – South Korea’s central governor said Friday that it might be possible for Bank of Korea to increase base interest rates during its Nov. 25 review.

Lee Ju-yeol stated, “According our projections of the economic future, it will not be difficult to increase rates in November,” answering questions from legislators at a parliamentary session.

The Bank of Korea has increased its policy interest rate by 25 basis point to 0.75% in August. This is the first significant Asian central bank to move away from monetary stimulus during the pandemic.

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