With support from Sheikha Fatima, UAE to restore Umayyad Mosque in Damascus
Mother of the Nation Endowment for Orphans’ initiative raises AED3.3bn during Ramadan; launches AED1 bn ‘Mother of the Nation City’ project
UAE sends 30 tonnes of food aid to support drought-affected communities in Kenya
UAE provides urgent relief to support flood-affected communities in Mozambique
Bank of Korea Cuts Key Interest Rate by 0.25 Percentage PointSeoul, 25 Feb (ONA) — South Korea’s central bank today slashed its
benchmark interest rate by a quarter percentage point in
an effort to shore up economic growth amid weak domestic demand and
uncertainties at home and abroad.
The monetary policy committee of the Bank of Korea (BOK) cut its
key rate by 25 basis points to 2.75 percent during a rate-setting
meeting in Seoul.
The move came a month after its rate freeze decision, which was
aimed at supporting the weak local currency while assessing the
impact of two rate cuts in the October and November (2024) meetings, South
Korea’s Yonhap News Agency reported.— Ends/Khalid
