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South Korea's central bank unexpectedly cuts rates by 25 bps
2024-11-28 09:17:06

SEOUL (Reuters) - South Korea's central bank cut policy interest rates for a second straight meeting in a surprise move as the economy stalled and inflation slowed more rapidly than policymakers predicted.


The Bank of Korea (BOK) lowered its benchmark interest rate by a quarter percentage point to 3.00% at its monetary policy review, an outcome only four of 38 economists polled by Reuters expected. All others forecast the bank to keep rates unchanged.


Governor Rhee Chang-yong holds a news conference at around 0210 GMT, which will be livestreamed via YouTube.

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