Bank of Korea Hits Pause, but Chip Boom Keeps Rate Hikes in Play

The Bank of Korea (BOK) held its benchmark rate at 3.00% on Thursday after two straight hikes. A 222.5% surge in early October chip exports keeps a November increase in play. The seven-member board matched the forecast of all 34 analysts in a Reuters poll. Yet the Korea Composite Stock Price Index (KOSPI) fell 20.72% in 10 sessions through Oct. 20. Why Does a Chip Boom Keep Rate Hikes in Play? Semiconductor exports in the first 20 days of October rose 222.5% from a year earlier, AJP reported. Meanwhile, that strength keeps price pressure alive, the Korea Times reported. Consumer prices rose 2.9% in September, above the bank’s 2% target, while core inflation eased to 2.8% from 3.4%.

BeCrypto News shows a short excerpt and links to the publisher. The full report belongs to BeInCrypto.