South Korea Lowers Benchmark Rate
South Korea central bank on Wednesday voted to lower benchmark lending rate by 25 basis points to 1.25%. This follows a quarter point cut in July.
"As it is expected that domestic economic growth will be moderate and it is forecast that inflationary pressures on the demand side will remain at a low level, the Board will maintain its accommodative monetary policy stance”, South Korea's central bank said in a statement.
- Staff Reporter/APMR News