Asian stocks rose on Friday as investors cheered a slowdown in U.S. inflation, while the yen hit a seven-month high and Japanese bond yields broke above the central bank's target as markets challenged Tokyo's commitment to loose monetary policy. MSCI's broadest index of Asia-Pacific shares outside Japan rose 0.8% to hit a new seven-month high and were headed for a third consecutive week of gains.
South Korea's central bank raised its policy interest rate by 25 basis points on Friday, making a widely expected move that many economists also predicted would mark the end of a tightening cycle that began in 2021.
South Korea's central bank raised its policy interest rate by 25 basis points on Friday, making a widely expected move that many economists also predicted would mark the end of a tightening cycle that began in 2021.
The Bank of Korea said its seven-member monetary policy board had decided to raise its policy interest rate to 3.50%, the highest since December 2008.
"Misjudgement of the situation, delay in sharing information and lack of cooperation among related agencies accumulated to cause large casualties," Sohn told reporters. The investigation team has referred 23 people, including the head of the Seoul Metropolitan Police Agency, to prosecutors.