Connect with us

Popular World News

Bank of Korea surprises with 25 basis point rate cut By Reuters

Bank of Korea surprises with 25 basis point rate cut By Reuters


Bank of Korea surprises with 25 basis point rate cut By Reuters


SEOUL (Reuters) – South Korea’s central bank unexpectedly cut its policy interest rate for the first time in three years on Thursday, as uncertainties from a trade dispute with Japan add to growing concerns over the economy’s outlook.

The Bank of Korea announced its Monetary Policy Board voted to cut the base rate by 25 basis points to 1.50%, without elaborating, ahead of expectations in a Reuters poll that the board would lower the rate next month..

Governor Lee Ju-yeol is due to hold a news conference at 0220 GMT, where he is expected to disclose the vote result and the central bank’s revised economic growth and inflation forecasts.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.


Source link

Continue Reading
You may also like...
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *


To Top
error: Content is protected !!