
The South Korean Central Bank increased the interest rate by 25 basis points to combat inflation.
Inflation is driving monetary policy officials worldwide to take aggressive tightening decisions.
After New Zealand and Canada, South Korea also increased interest rates. The South Korean Central Bank raised its policy rate by 25 basis points to 1.50 percent.
The bank warned last week that inflation will remain around 4 percent in the near future. The Central Bank of South Korea had decided to increase the policy rate three separate times in the August-January period.