South Korea aiming for rate hike as growth recovers
BoK to discuss rate hike in next policy meeting, but quarterly GDP figure shows some weakness
South Korea is seeing a strong recovery as its GDP hit a robust annual growth rate of 5.9% in the second quarter, missing the market projection of 6% by inches, the Bank of Korea announced on July 27.
The recovery could open up the possibility of a rate hike as soon as August, as central bank officials have indicated a preference for tightening.
However, second-quarter GDP was 0.7% when compared with three months earlier, a slowdown from the previous quarterly growth of 1.7%. The quarterly
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