.Seoul, South Korea
The Bank of Korea increased its base rate of interest from a record low of 0.5 percent to 0.75 percent. (Photo credit: PTI)

  • South Korea has become the first major Asian economy to raise interest rates
  • The central banks around the world are doing its best to balance the impact of COVID-19 pandemic
  • Due to the partial lockdown that took place last month has delayed the decision