BOK Raise Interest Rates Third Time in 2011

The Korean media outlets report that this hike would hit already slow real estate market of Korea.

From Bloomberg:

South Korea’s won extended gains and bonds declined after the central bank raised interest rates for the third time this year to rein in inflation.

Governor Kim Choong Soo boosted the benchmark seven-day repurchase rate to 3.25 percent from 3 percent, following quarter-percent increases in January and March, the central bank said in a statement in Seoul today. Eight of 17 economists surveyed by Bloomberg News predicted the decision with the rest having forecast no change.

http://www.bloomberg.com/news/2011-06-10/south-korean-won-extends-gain-bonds-decline-after-interest-rate-increase.html