 The Bank of Korea raised its policy rate for the first time in almost three years on Thursday. Even a surge in household debts created new threats for the economy. The country's monetary policy board raised the benchmark interest rates 25 basis points to 0.75%. This was expected by 16 of 30 analysts surveyed. The benchmark Copsia Begapardon fell sharply after the rate's decision. BOK was the first major Asian central bank to swift away from pandemic-era monetary settings. Policymakers had been signalling higher rates since May, but expectations for a hike were paired recently due to South Korea's latest COVID-19 outbreak. This forced Asia's fourth largest economy into a semi-lockdown. Central banks around the world are laying the groundwork for a transition away from crisis-era stimulus. Hello, hope you enjoyed the news. Please do subscribe to our YouTube channel and don't forget to hit the notification button so you get notified about fresh news updates.