BOK’s Lee: Thursday’s rate hike decision was not unanimous

During a press conference on Thursday, the Bank of Korea (BOK) Governor Lee Ju-yeol said that the interest rate hike decision was not unanimous.

Lee added that board member Joo Sang-Yong dissented to Thursday’s rate decision.

The South Korean central bank raised its policy rate from a record low of 0.50% to 0.75% in its August meeting, the first hike in almost three years.

Market reaction

USD/KRW is extending its upside on the above comments, flirting with daily highs of 1,169.17, adding 0.45% on the day. The South Korean won (KRW) fails to benefit from the rate lift-off.