July rate hike was no one-off, BOK deputy governor says

The Bank of Korea should keep raising interest rates after its first hike in more than three years, as strong growth and persistent inflation outweigh recent stabilization in the won and stock market, a senior central bank official said Tuesday. "Looking ahead, growth is expected to remain solid on the back of unprecedented income growth, while underlying inflationary pressures persist and financial stability risks could increase," BOK Senior Deputy Gov. Ryoo Sang-dai said at a press conference