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Second straight rate hike for Asia’s number-three economy as Nvidia-led AI expansion continues
The Bank of Korea increased its policy rate by 25 basis points to 3% on Thursday and concurrently lifted its growth forecasts.
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The Bank of Korea increased its policy rate by 25 basis points to 3% on Thursday and concurrently lifted its growth forecasts. The tightening comes as South Korea’s economy, the third‑largest in Asia, is being buoyed by a surge in artificial‑intelligence activity, a trend reinforced by Nvidia’s second‑quarter results showing continued expansion in the AI sector.
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