South Korea unexpectedly reduces benchmark lending rates in first back-to-back cuts since 2009
Publishing timestamp: 2024-11-28 01:38:28
Summary
South Korea cuts benchmark interest rate by 25 basis points in a surprise move, citing deteriorating growth outlook and slowing exports. The country's GDP outlook for 2024 and 2025 was also revised downwards. The decision was unexpected and aimed at mitigating downside risks to the economy.
Sentiment: NEGATIVE
Keywords: us dollar/korean won fx spot rate, business news, breaking news: asia, asia economy, kospi index, breaking news: markets,