SEOUL, South Korea (AP) — South Korea's central bank has raised its key interest rate for the fifth time in less than a year as it battles inflation.

The Bank of Korea announced Friday that it lifted the benchmark rate to 3.25 percent from 3 percent at a monthly monetary policy meeting.

Experts had been divided on the outcome. A total of nine economists out of 15 surveyed by Yonhap Infomax, the financial news arm of Yonhap news agency, predicted the BOK would leave the rate unchanged.