South Korea Raises Rates for First Time Since 2023, Pressuring Crypto Risk Appetite

The Bank of Korea raised its benchmark interest rate by 25 basis points to 2.75%, its first increase since January 2023, matching market expectations after 36 of 37 economists surveyed by Reuters predicted the move. South Korea is one of the world’s most active retail crypto markets, and the shift from monetary easing to tightening could further cool speculative demand for crypto and other risk assets, leaving the market more dependent on global liquidity and institutional capital. — link