LATEST NEWS
 Top Stories
 U.S.
  Severe Weather
  Bird Flu
 World
  Castro
  Mideast Crisis
  Iraq
 Business
 Personal Finance
 Technology
 Sports
  Sports Columns
  NASCAR
  Baseball
  College Hoops
  NBA
  NHL
  Tennis
  Golf
 Entertainment
 Health
 Science
 Politics
 Washington
 Offbeat
 Podcasts
 Blogs
 Weather
 Raw News
 NEWS SEARCH
 
 Archive Search
 SPECIAL SECTIONS
 Multimedia Gallery
 AP Video Network
 Today
 in History
 Corrections
Nov 29, 8:04 PM EST

South Korea's central bank hikes key rate from record low


Multimedia
Swift negotiations free U.S. journalists
Timeline of U.S.-North Korea relations
Timeline of North Korea's nuclear and missile programs
Depth of Field: North Korea
A look at Kim Jong Il
Truth emerges about Kim Soo-im
Commission: U.S. military killed Korean refugees
South Koreans Protest U.S. Beef Accord
S. Korea Women Keep Diving Tradition Alive
Bittersweet Homecoming: Koreans Return Home After 68 Years in Russia
Latest News
Ex-US deserter to NKorea who married Japan abductee dies

South Korea imposes new sanctions on North Korea

Senior UN official leaves North Korea after rare visit

S. Korea human rights body urges probe of abuse of vagrants

As UN envoy visits, a look at N.Korea's diplomatic pipelines

Multimedia
A district summary of the Beige Book
Measuring economic stress by county nationwide
Mall malaise: shoppers browse, but don't buy
Unemployment by the numbers
Family struggles with father's unemployment
Saying an affordable goodbye
Hard times hit small car dealer
Latest Economic News
UK inflation rises to highest level since March 2012

UK inflation rate rises unexpectedly to 3.1 percent

UN: Global economy is growing at 3 percent _ best since 2011

30 years later, Wall Street remembers 'Wall Street'

Jobless rate for Latinos drops to a record low

A stronger global economy is helping boost the US job market

Official: Lawsuit could 'imperil' Foxconn, other projects

Where Americans found jobs: Manufacturing and health care

Robust US hiring underscores economy's growing momentum

German exports decline for 2nd month, trade surplus narrows

Interactives
Greece's Debt Threatens to Spread
State budget
gaps map
Auto industry problems trickle down, punish Tennessee county
Women give old Derby hats a makeover in tough economy
S.C. town deals with highest unemployment in South
How mortgages were bundled and sold as securities
Tracking the $700 billion financial bailout
Tracking the year's job losses
State-by-state foreclosures since 2007
Credit crisis explained
Presidents and their economic legacies
Lexicon of the financial crisis
Americans' addiction to debt

SEOUL, South Korea (AP) -- South Korea's central bank has raised its key policy rate from a record low.

The Bank of Korea said Thursday its policymakers decided to increase the key rate by a quarter of a percentage point to 1.50 percent at its November meeting.

It was the bank's first rate hike since June 2011. Borrowing rates have steadily fallen during the past five years, reaching a record low of 1.25 percent in June 2016.

Thursday's rate hike was widely expected after third-quarter economic growth beat expectations.

Asia's fourth-largest economy is expected to post its fastest growth in three years this year as its exports have been surprisingly strong thanks to robust global demand for memory chips.

© 2017 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed. Learn more about our Privacy Policy and Terms of Use.