Bank of Korea Raises Rate Back to Pre-Pandemic Level

South Korea’s central bank has brought its base rate back to a pre-pandemic level, raising it for a third time in less than half a year to fight inflation.

The Bank of Korea increased its benchmark seven-day repurchase rate by 25 basis points to 1.25% on Friday. The bank had raised the rate in August and November.

Sixteen of 19 analysts surveyed...