[Breaking] BOK hikes key rate by 0.25% point for first time in more than 6 yrs

In a widely expected move, the monetary policy board of the Bank of Korea voted to increase the base rate to 1.5 percent from a record low of 1.25 percent, ending 16 straight months of its wait-and-see stance after the last rate cut made in June last year.

It also marked the BOK's first monetary tightening action since June 2011, when the central bank raised the rate by 0.25 percentage point to 3.25 percent. (Yonhap)