South Korea Raises Interest Rates, First Developed Economy in Asia to Do So During Pandemic

Good news! Perfect timing just shortly before the famous Jackson Hole Economic Symposium starts (8/27/2021), one of the most important meetings of dozens of central bankers etc. from around the world.

Since the financial crisis of 2008, many Western central banks have engaged in a reckless and irresponsible extreme low interest rate policy! Cui bono?
Western governments were able to cheaply pile up government debt! With normal interest rates, the interest payments would have eaten up a larger and larger share of public expenditure!

Hundreds of millions of savers were punished by not earning any interest on their savings!

South Korea Raises Interest Rates, First Developed Economy in Asia to Do So During Pandemic - WSJ Delta variant disrupts supply chains, but policy makers see rising household debt and inflation as bigger threats

Zinswende in Asien: Die Bank von Korea erhöht den Leitzins von 0,5 auf 0,75 Prozent Kurz vor der Zentralbank-Tagung im amerikanischen Jackson Hole setzt Koreas Zentralbank ein geldpolitisches Zeichen. Trotz erneut steigenden Corona-Infektionen verteuert sie Geld.