The Bank of Korea held its last Monetary Policy Committee meeting today (28th) and cut its benchmark interest rate.
Following last month, interest rates fell by 0.25%p this month, lowering to 3% per annum.
It seems to have taken into account the deteriorating economic outlook due to the slow recovery of domestic demand and slowing export growth.
In addition, it is analyzed that the inflation rate has stabilized to the 1% level for the second month, and the surge in household debt and housing prices has also been dampened, reducing the burden of interest rate cuts.
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