Bank of Korea Official Says It Is Time to Consider Rate Hikes

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Bank of Korea Senior Deputy Governor Ryoo Sangdai said it is time to consider raising interest rates as the central bank projected 2% growth and 2.2% inflation for this year in February. Ryoo said the economy has shown greater-than-expected resilience after the Middle East war. The Bank of Korea has kept its benchmark policy rate unchanged since July last year.

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