South Korea raises interest rates by historic half-point

South Korea's central bank has raised interest rates by an unprecedented half-point in an effort to curb inflation that is at a 24-year high.

But slowing business activity is raising fears that the country may experience a sharp economic downturn.

Dave Yin reports.

IN: The Bank of Korea
OUT: higher debt burdens.
DUR: 40 sec
LINK: http://www.fsnradionews.com/feeds/0712SKInterestRate-DY.mp3