BOK signals continued monetary tightening amid rising inflation, sound economic growth

South Korea's central bank said Wednesday it is necessary to maintain a monetary tightening mode as inflation pressure remains high and the country's economy is likely to continuously grow. Earlier this month, the Bank of Korea raised its benchmark rate by a quarter percentage point to 2.75 percent, the first rate hike in 3 1/2 years. The move was aimed at combating escalating prices amid a volatile local currency and comes as robust exports are expected to sustain solid economic growth. "Going