Institution: The Bank of Korea is highly likely to raise interest rates this week, potentially marking the start of a tightening cycle

Odaily Planet Daily News According to BigGo Finance, sources from the financial community revealed that the market generally expects the Bank of Korea to raise interest rates by 25 basis points at its meeting this Thursday, increasing the benchmark rate from 2.50% to 2.75%. This would be the first rate hike in about three and a half years since January 2023 and is highly likely to mark the beginning of a tightening cycle. Bond market experts predict further rate hikes within this year, with the benchmark rate expected to reach 3.00% by the end of the year and rise to 3.25% in the first half of next year. This means borrowers need to prepare for a period of rising interest rates lasting at least one year. (Jin Shi)