US Fed's hawkish shift pressures BOK

The US Federal Reserve signaled a higher interest-rate path as it kept its benchmark rate unchanged Wednesday, increasing pressure on the Bank of Korea to move toward monetary tightening.

The US central bank left the target federal funds rate at 3.5-3.75 percent, but struck a hawkish tone, citing inflationary pressures and signaling a higher rate path ahead.

While the BOK had already been widely expected to raise its benchmark rate by 0.25 percentage point in its July policy meeting, the Fed's h ...