Policy pivot: Shoppers walk past a currency exchange sign in the Myeongdong district of Seoul. The South Korean won continues to edge down against the dollar, with losses of 0.6% for the day. — AFP
SEOUL: The Bank of Korea (BoK) delivered a widely expected interest-rate cut yesterday to help buffer the export-driven economy from Donald Trump’s sweeping trade tariffs and revive domestic activity after months of political turmoil eroded growth.
The central bank lowered its seven-day repurchase rate by a quarter percentage point to 2.5% yesterday and slashed its growth forecast for the current year to 0.8% from a 1.5% projection in February.
