Bank Of Korea Hikes Key Rate By 25 Bps

South Korea's central bank raised its benchmark rate by a moderate quarter point on Thursday as the slowdown in economic growth is set to be more severe. The Monetary Policy Board of the Bank of Korea unanimously decided to raise the Base Rate by 25 basis points to 3.25 percent from 3.00 percent. Regarding the size of the rate hike, the board assessed that a quarter point increase is appropriate.