'The central bank joined a global wave of larger rate increases by pushing up its seven-day repurchase rate by a half-percentage point to 2.25% as widely expected, following five previous hikes half that size. The Reserve Bank of New Zealand also raised its official cash rate by the same margin about an hour after the BOK.
The BOK’s move is the biggest since rates became South Korea’s primary monetary tool in the late 1990s.
The decision to go for a bigger increase now indicates heightened concern over the need to take firmer action to quickly rein in price growth that is continuing to outstrip expectations..'