South Korea's central bank cuts borrowing costs to nurse the sluggish economy
South Korea’s central bank cut its key interest rate and sharply lowered its growth outlook for the country’s economy in 2025, as it moved Thursday to counter U.S. President Donald Trump’s tariff hikes and weak domestic demand worsened by recent political turmoil. Following a monetary policy meeting, the Bank of Korea cut its benchmark interest rate by a quarter percentage point to 2.5%. The bank slashed its 2025 growth outlook to 0.8%, nearly halving its previous projection of 1.5% announced in February.
Associated Press Finance
•
57 minutes ago
