In a move aimed at supporting the domestic economy ahead of the presidential elections, the Bank of Korea announced on Thursday a 25 basis point cut in its benchmark interest rate, lowering it 2.75% to 2.5%. This unexpected decision comes just five days before the scheduled election on June 3rd, amid political instability and visible signs of economic slowdown.
The International Monetary Fund IMF has urged Egypt to proceed cautiously with interest rate cuts, amid global uncertainty triggered by tariffs imposed by U.S. President Trump.
Bloomberg reported that Egypt is preparing for its first interest rate cut in nearly five years
The Central Bank of Turkey raised its benchmark interest rate by 350 basis points on Thursday, April 17, in line with market expectations.
The Bank of Korea decided on Thursday to keep its key interest rate unchanged at 2.75%
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