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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
