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CD 91-Day Rate Surges 9bp in a Day—Aftershocks from Rhee Chang-yong Shock
The 91-day certificate of deposit rate in South Korea jumped 9 basis points to 2.70%, reflecting heightened market volatility after hawkish comments from Bank of Korea Governor Rhee Chang-yong, with short-term rates trading at a significant premium over the base rate amid rising credit concerns.