According to CoinMeta, Moody's Senior Economist John Bromhead stated that the South Korean economy accelerated its growth during the July to September quarter, with a GDP quarter-on-quarter increase of 1%, easily exceeding the market's general expectation of 0.7%. The strong GDP data on Tuesday further confirmed the necessity of maintaining restrictive monetary policies, especially since price pressures have not been convincingly alleviated. It is expected that the South Korean Central Bank (Bank of Korea) will raise interest rates in November. After raising rates in July and August, the Bank of Korea kept the benchmark interest rate at 3% unchanged in October. In September, South Korea's overall inflation rate was 2.9%, and the core inflation rate was 2.8%, both of which were higher than the Bank of Korea's target of 2%.