Top Bank of Korea Official Says It’s Time to Consider Rate Hike

A senior official at the Bank of Korea said it’s time to consider raising rates, as economic growth appears unlikely to fall much below the bank’s earlier projections, while inflation is likely to exceed its previous forecast.

“It’s time to consider stopping rate cuts, and thinking about increases,” Senior Deputy Governor Ryoo Sangdai told reporters Sunday in Samarkand, where he is attending the annual meeting of the Asian Development Bank.