South Korea (ETF: EWY) surprises markets by lifting interest rates for the first time since the...

|By:, SA News Editor

South Korea (ETF: EWY) surprises markets by lifting interest rates for the first time since the outbreak of the financial crisis, to 2.25%. "The decision indicates that the authorities are confident about the economy and don't expect it to be hit hard by a global economic slowdown or a double-dip," one economist said. Analysts expected the BOK to hold steady until August.