Seoul, Nov 28, 2024 (AFP) - S Korea surprises with second successive rate cut

NAMPA / AFP

2024-11-28

South Korea's central bank cut interest rates Thursday for the second time in a row in a surprise move, citing stabilising inflation and the need to mitigate growing economic risks. The Bank of Korea's 0.25 percentage point reduction, which followed a similar move in October, lowers the benchmark rate to 3.0 percent and comes as authorities around the world ease monetary policies after years of hikes aimed at tackling soaring prices. It also cut......

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