South Korea and Singapore tighten monetary policy
Central banks revise inflation forecasts up and GDP down
South Korea and Singapore tightened monetary policy today (April 14), as inflation rises above expectations.
The Bank of Korea raised its base rate by 25 basis points, from 1.25% to 1.50%. “Currently available information suggests that inflation has accelerated,” the board said.
The central bank is currently without a governor. Lee Ju-yeol’s term ended March 31 after eight years in the role. South Korea’s president nominated Rhee Chang-yong, currently director of the International Monetary
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