According to CoinMeta, the Bank of Korea raised interest rates for the second time in a row on Thursday, increasing them by 25 basis points to 3%, the highest level since January 2025. This rate hike is aimed at addressing rising core inflation, which climbed to 2.6% in July. Although the overall inflation rate slightly dropped to 2.8% in July, it has been on the rise each month since February. The Bank of Korea stated that it expects inflation to remain above the target level of 2% for an extended period due to the continuous increase in housing prices in Seoul and surrounding areas, which rose by 2.5% month-on-month in June, the highest increase in five years.