According to Odaily, South Korea’s central bank deputy governor Ryoo Sangdai said it is time to consider raising interest rates. Ryoo, a member of the monetary policy committee, cited stronger-than-expected economic resilience following Middle East tensions and rising inflation pressures. The central bank has kept its benchmark policy rate unchanged since July last year. Earlier forecasts projected 2% growth and 2.2% inflation for this year, but recent data shows growth prospects remain intact due to strong semiconductor shipments, while inflation risks have increased.
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