Source: The Bank of Korea is highly likely to raise interest rates this week, which could mark the start of a tightening cycle

Svmuu News: According to BigGo Finance, financial industry sources have revealed that the market widely expects the Bank of Korea to raise interest rates by 25 basis points at its meeting this Thursday, raising the benchmark rate from 2.50% to 2.75%. This will be the first rate hike in about three and a half years, since January 2023, and is likely to mark the start of a tightening cycle. Bond market experts predict further rate hikes this year, with the benchmark rate reaching 3.00% by year-end and rising to 3.25% in the first half of next year. This means borrowers should prepare for at least a year of rising interest rates. (Jin Shi)