SEOUL -- The Bank of Korea raised its benchmark interest rate by half a percentage point on Wednesday, taking a more active inflation-fighting role as the import-dependent country struggles with soaring energy and food prices.
Inflation
Bank of Korea hikes key rate by half a point to fight inflation
Recession fears build as central bank focuses on prices while growth slows
Bank of Korea Gov. Rhee Chang-yong: Like many others, the central bank is battling high inflation. © Reuters
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