0424 GMT--The Bank of Korea is the most mentioned entity in the news over the past four hours, according to Factiva data, after the South Korean central bank raised its benchmark interest rate by 25 basis points. The rate increase brought the seven-day repurchase rate to 2.50% and follows an increase of 50 basis points in July. The BOK also raised its inflation forecast for 2022, putting it at 5.2%, up from previous guidance of 4.5%. At the same time, it forecast slower GDP growth, at 2.6% for 2022 from a previous forecast of 2.7%. It said exports growth is decelerating, in line with a global economic slowdown. The Korean won strengthened after a press conference following the rate decision, with the USD/KRW falling to around 1,334 after the event from around 1,340 before the decision. Dow Jones & Co. owns Factiva. (jacques.vanwersch@dowjones.com)
(END) Dow Jones Newswires
08-25-22 0039ET
