U.S. Fed Chairman Jerome Powell’s “surprisingly” hawkish turn is expected to provide an impetus for the Bank of Korea (BOK) to deliver another key rate hike early next year despite renewed fears of a slowdown in the economic recovery here triggered by the Omicron variant of COVID-19 that could be potentially resistant to current vaccines, according to economists, Wednesday. After increasing the benchmark rate to 1 percent last week, BOK Governor Lee Ju-yeol hinted at another hike in the months to come by saying that the nation’s key interest rate was “still accommodative.”

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