BOK delivers back-to-back rate hikes as price pressures persist

SEOUL, Aug 27 : The Bank of Korea on Thursday raised its benchmark interest rate by a quarter percentage point to 3.00 per cent, as expected, delivering a second straight increase as inflation stays above target and financial stability risks persist.The seven-member monetary policy board at the BOK voted to raise the seven-day repurchase rate to the highest level since February 2025, a decision predicted by 18 of 35 economists surveyed in a Reuters poll.The BOK also revised up this year's growth estimate to 3.3 per cent from the 2.6 per cent projected in July. It left this year's inflation forecast unchanged at 2.7 per cent.The median expectation is now for one more rate hike in the first quarter of 2027 and then a hold through to at least the end of next year, as analysts expect policymak