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Finance

Bank of Korea governor Shin Hyun-song says rate hikes needed before it is too late

Bank of Korea Governor Shin Hyun-song said there is a need to raise the policy interest rate before it is too late, stressing a focus on price stability. He said growth has strengthened on the back of solid semiconductor exports driven by the global spread of AI, but inflation burdens are rising. He also cited risks from the housing market, household debt and leveraged investing.

Crypto

Bitcoin weak even as U.S. stocks rise, resembling 2018 and 2022 bear markets

Bitcoin is again facing downward pressure ahead of the release of U.S. inflation data. It slid about 1.2 percent on June 9 as Wall Street opened and moved toward lows in the $62,000 range, while U.S. stock indexes opened higher. Some traders said a break above $65,000 would signal a shift higher, but others said the move resembles past bear markets after Bitcoin fell below key technical levels.

Finance

BOK holds base rate at 2.50 percent, raises growth forecast to 2.6 percent amid Middle East risks

The Bank of Korea\'s Monetary Policy Board kept the base rate unchanged at 2.50 percent, citing heightened inflation pressure from the fallout of the war in the Middle East but noting high uncertainty. The board raised its 2026 growth forecast to 2.6 percent from 2.0 percent on strong semiconductor-led exports, expanding investment and solid consumption. It projected consumer inflation at 2.7 percent and core inflation at 2.4 percent.