S Korea's central bank raises key interest rate to 3%

09:48, March 10, 2011      

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South Korea's central bank said Thursday it raised the benchmark interest rate by 25 basis points to 3.00 percent.

The Bank of Korea (BOK)'s decision came amid spreading concerns over rising inflationary pressures which could hurt the nation's economic recovery.

The BOK lifted the key rate by 25 basis points in July and November last year and in January this year respectively from a record-low 2.00 percent.

Source: Xinhua
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