South Korea, First Developed Economy To Raise Interest Rates During Pandemic
South Korea has become the first developed economy to hike interest rates during the pandemic. The Asian giant did so on Thursday by 25 basis points to 0.75%, sending negative shockwaves across Asia-Pacific shares. Q2 2021 hedge fund letters, conferences and more Interest Rates IncreaseAccording to CNBC, the decision by the country’s central bank “was expected as financial risks heat up despite the virus threat.” The decision was not unanimous as some board members of the Bank of Korea were calling for rates to be held off. “It was also divided among analysts polled by Reuters, with only 16 ou...