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Market Chatter: Bank of Korea Widely Expected to Raise Rates to 2.75%

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The Bank of Korea is projected to raise its benchmark interest rate by 25 basis points to 2.75% at its upcoming monetary policy meeting on Thursday, according to a Reuters poll of economists published on Tuesday.

The move would mark the central bank's first interest rate hike in more than three years.

Out of 37 economists surveyed by Reuters between July 7 and July 13, 36 forecast a rate increase this week.

Driven by persistent inflation pressures that remain well above the central bank's 2% target, the majority of economists also expect policymakers to implement an additional rate hike before the end of 2026, the report said.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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