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South Korea rate hike could spur action elsewhere in East Asia

After Fed moves, monetary policy set to come back down to earth

TOKYO -- With the Bank of Korea raising rates for the first time in more than six years, after the U.S. Federal Reserve tightened its policy, the pressure on central bankers elsewhere in East Asia to follow suit is intensifying.

After nearly 10 years of easy money, policymakers are responding to stronger economic growth, a modest tick-up in inflation, creeping increases in market interest rates -- and concerns about possible over-heating in at least some financial and property markets.

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