Reported about 5 hours ago
The Bank of Korea has reduced its benchmark interest rate to 2.75% in response to economic challenges exacerbated by political turmoil and impending tariffs from the Trump administration. This rate cut aims to stimulate demand as growth forecasts for South Korea have been lowered to 1.5%. The central bank’s decision aligns with calls for increased fiscal spending to combat dwindling consumer confidence and potential impacts from U.S. trade policies.
Source: YAHOO