South Korea's Central Bank Surprises with Consecutive Rate Cuts Amid Slowing Economy
TL;DR Summary
South Korea's central bank unexpectedly cut its benchmark interest rate by 25 basis points, marking the first consecutive rate cuts since 2009, in response to a weaker-than-expected GDP growth and slowing exports. The Bank of Korea aims to mitigate economic downside risks despite concerns over the depreciating won. The decision reflects the bank's focus on supporting growth amid stabilized inflation and external pressures, including potential U.S. tariffs affecting exports.
Topics:business#bank-of-korea#currency-depreciation#economic-growth#economy#interest-rates#south-korea
- South Korea unexpectedly cuts rates by 25 basis points — first back-to-back cuts since 2009 CNBC
- South Korea makes first back-to-back rate cuts since 2009 Reuters.com
- Asia-Pacific markets mixed as investors assess South Korea's surprise interest rate cut CNBC
- South Korea’s central bank cuts a key rate to nurse a slower economy The Hill
- Bank of Korea Surprises With Back-to-Back Rate Cut, Lowers Growth Forecasts The Wall Street Journal
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