South Korea's central bank raised its base rate 25 basis points to 2.75%, its first hike since January 2023, backed by a TSMC-driven export boom. Iran's reported threat to close a second shipping chokepoint could force other EM central banks into defensive hikes of their own.
Bank of Korea raises its benchmark interest rate to 2.75 percent on July 16, its first hike since January 2023. Source
