Developing
Business·5/4/2026AI summary
Bank of Korea Senior Deputy Governor Signals Potential Rate Hike on Strong Growth
Ryoo Sang-dai, senior deputy governor of the Bank of Korea, has signaled the possibility of a rate hike, citing better-than-expected economic growth of 1.7 percent in Q1 — the fastest quarterly expansion in 5 1/2 years — driven by strong semiconductor exports. This marks the first time a BOK monetary policy board member has indicated a shift away from rate cuts, with inflation potentially exceeding 2.2 percent. The central bank will hold its next policy meeting on May 28, chaired by new Gov. Shin Hyun-song.
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