KITU macroeconomist Gareth Leather said that after raising interest rates for the second time in a row in August, the Bank of Korea may adopt a more gradual approach to policy austerity in the next few months. The economist wrote in a report that as the won strengthens, “the pressure on the Bank of Korea to raise interest rates further will lessen”, adding that the South Korean economy is strong enough to absorb the recent increase from 2.75% to 3.00%.

KITU macroeconomist Gareth Leather said that after raising interest rates for the second time in a row in August, the Bank of Korea may adopt a more gradual approach to policy austerity in the next few months. The economist wrote in a report that as the won strengthens, “the pressure on the Bank of Korea to raise interest rates further will lessen”, adding that the South Korean economy is strong enough to absorb the recent increase from 2.75% to 3.00%.