Finance

Bank of Korea pauses rate hikes; focus turns to banks\' deposit and loan rates

The Bank of Korea kept its benchmark interest rate at 3.00 percent, but upward pressure on banks’ lending rates is expected to persist as the impact of earlier hikes feeds into funding costs and the possibility of further increases remains. Some brokerages forecast additional 0.25 percentage point hikes in November and February. COFIX, a key bank funding index, rose sharply in September, which could lift floating-rate mortgage costs and keep borrowers’ interest burdens elevated.

Crypto

Ex-FTX COO slams Netflix FTX collapse drama, says she stopped watching after 30 seconds

Former FTX chief operating officer Constance Wang criticised Netflix’s trailer for an FTX collapse drama, saying it portrayed key people differently from her experience. She said she stopped watching after 30 seconds and found some depictions physically uncomfortable. Netflix plans to release the eight-episode series The Altruists worldwide on Nov. 19. Wang also described launching crypto trading platform Pacifica without outside investment.