Korea's central bank cuts key rate to historic low of 1.75%
- 9 years ago
We begin with the latest move to revive the slagging economy.
Korea's central bank cut its key rate to an historic low... of 1-point-7-5 percent.
The Bank of Korea cited the weak recovery momentum for its third cut...
each by a quarter of a percentage point in less than year,... adding that it could hurt the country's growth potential.
"We drew the conclusion that the pace of recovery in domestic demand is not meeting our forecast from January. And since we agree on the downside risks, we thought it was better to act preemptively."
Korea's central bank cut its key rate to an historic low... of 1-point-7-5 percent.
The Bank of Korea cited the weak recovery momentum for its third cut...
each by a quarter of a percentage point in less than year,... adding that it could hurt the country's growth potential.
"We drew the conclusion that the pace of recovery in domestic demand is not meeting our forecast from January. And since we agree on the downside risks, we thought it was better to act preemptively."