November 28, 2024 01:02 GMT
MNI BRIEF: Bank of Korea Cuts Policy Rate to 3.00%: Press
MNI (TOKYO) - The Bank of Korea on Thursday decided to lower its policy interest rate to 3.00% from 3.25% due to its concerns over the slower economy based on weak domestic demand, Wowkorea reported.
Slowing inflation justified the bank's call, although many economists did not expect a rate cut. (See MNI BOK WATCH: Board Likely To Hold; Q1 Rate Cut Eyed)
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