The Bank of Korea raised its benchmark rate by 25 basis points to 3%, marking its second consecutive increase. While consumer price inflation eased to 2.8% in July, core inflation reached 2.6%, its highest level since December 2023. Seoul apartment prices rose 2.50% in June from May, the steepest monthly gain since June 2021. The won strengthened below 1,400 per dollar in August after the KOSPI fell 22% in July, and leveraged chip funds saw their first outflow since launch in late May, with nearly $1 billion in redemptions.
Source: Read the original article
