Bank of Canada hikes key rate by 75 bps for first time since 1998/South Korea’s central bank joins peers in historic half-point rate hike..

https://ca.finance.yahoo.com/news/bank-of-canada-surprises-massive-100-basis-point-hike-140601102.html

https://www.cnbc.com/2022/07/13/south-koreas-central-bank-joins-peers-in-historic-half-point-rate-hike.html

The Bank of Canada raised its benchmark rate by 100 basis points on Wednesday, a surprise move that exceeded economist expectations, as the bank attempts to set a firehose against scorching inflation.

The unexpected and supersized increase comes after two consecutive 50 basis point hikes, bringing the policy interest rate to 2.5 per cent. It is the largest increase since 1998.


South Korea’s central bank joins peers in historic half-point rate hike

South Korea’s central bank on Wednesday delivered a historic half-point interest rate hike to wrest control of inflation running at the fastest pace in 24 years.

The Bank of Korea (BOK) raised its benchmark policy rate by 50 basis points to 2.25%, the biggest increase since the bank adopted the current policy system in 1999, as pressure mounts for policymakers to act faster.


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