South Korea central bank delivers back-to-back rate hike, as expected

SEOUL, Aug 27 : The Bank of Korea raised its benchmark interest rate by a quarter percentage point to 3.00 per cent on Thursday, as expected, delivering a second straight increase as inflation stays above target while financial stability risks persist.

The seven-member monetary policy board at the BOK voted to raise the seven-day repurchase rate by 25 basis points, a decision predicted by 18 of 35 economists surveyed in a Reuters poll.

Governor Shin Hyun Song will hold a press conference at 0210 GMT.