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Additional rate hike

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It's critical to check inflation, household debt

The Bank of Korea (BOK) raised its key policy rate by 0.25 percentage points to 1 percent Thursday, as part of its efforts to tame inflation and reduce household debt. The hike came three months after the central bank ramped the rate up by a quarter point. This means that the low interest rate era is coming to an end as additional rate hikes are expected next year.

The rate increase is a step in the right direction, as it reflects the BOK's determination to bring inflationary pressure under control. Consumer prices surged 3.2 percent last month from a year earlier, after staying at the 2-percent level for the sixth straight month in September. The figure was the highest since January 2012. Producer prices also jumped........

© The Korea Times

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