بنكي | Bank of Korea

South Korea Cuts Interest Rates to Support Economy Amid Political and Trade Turmoil

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.