BOK chief signals further rate hikes as inflation risks persist

Shin Hyun-song, governor of the Bank of Korea, reiterated the need to raise interest rates, citing persistent inflationary pressures from the Middle East war and rising housing prices.

Speaking at a ceremony marking the BOK’s 76th anniversary in Seoul, Shin said growth, inflation and financial stability indicators all point to the need for further policy tightening.

“Data received since the May monetary policy meeting have confirmed this assessment,” he said.

“While monetary policy often involve ...