Citi Predicts Bank of Korea Rate Hike to 3% Amid Inflation Concerns

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Citigroup (Citi) analysts predict that the Bank of Korea (BOK) will continue to raise interest rates throughout the year, potentially reaching 3%, in an effort to combat rising inflation. The forecast reflects growing concerns about inflationary pressures in the South Korean economy, driven by factors such as global supply chain disruptions and rising energy prices. The BOK has already implemented several rate hikes in recent months, signaling its commitment to maintaining price stability.