SOUTH KOREA’S CENTRAL BANK DECIDED TO LOWER ITS POLICY RATE BY 0.5 PERCENT

Highlights –

• South Korea’s central bank decided to lower its policy rate by 0.5 percent.
• Bank of Korea had earlier slashed its rate by 25 basis points in May.
• The current rate may remain the same until the economy shows signs of recovery.
• Forecast made - that the economy would contract by 0.2 percent on-year by the end of the year.

Bank of Korea ....