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SEOUL - A Bank of Korea board member said benchmark interest rates need to be raised as addressing financial imbalances is a priority over supporting economic growth, minutes of a July 15 board meeting showed on Tuesday.
Koh Seung-beom, the sole dissenter among the bank's seven board members in a decision to hold interest rates on July 15, said excessive debt growth could eventually hurt economic growth and create asset bubbles.
Only dissenters are identified in minutes. REUTERS