By 
Reuters
Bank of Korea to hike rates by historic 50 bps – Reuters poll
South Korea’s central bank will deliver its first-ever 50 basis point rate rise to 2.25% on Wednesday, turning up the heat on a rate-hiking campaign as inflation tops a 24-year high and has yet to peak, a Reuters poll showed on Monday. One of the first central banks to start raising rates, in August 2021, the Bank of Korea is still grappling with inflation, which reached 6.0% in June, the highest since November 1998 when an Asian financial crisis was in full swing. To arrest further price rises and cushion a falling currency, 27 of 32 economists in a July 4-8 Reuters poll expected the BoK to go for an unprecedented half-point hike on July 13.
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