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

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