<\/p>\n
With 2nd straight month of cuts, base rate is at 2-year low of 3%.<\/p>\n
The South Korean central bank on Thursday lowered its base interest rate by 25 basis points to 3%, marking the second consecutive monthly cut and the lowest rate since October 2022.<\/p>\n
The Bank of Korea cited intensifying downward pressure on economic growth, stabilized inflation, and a slowdown in household debt as key reasons for the decision.<\/p>\n
Despite increased exchange rate volatility, it is appropriate to further cut the base rate to mitigate downside risks to the economy, the bank stated.<\/p>\n
The bank expects inflation to remain stable despite upward pressure from a rising exchange rate, thanks to declining global oil prices and subdued demand.<\/p>\n
Inflation is projected to come in at 2.3% this year and 1.9% next year, revised down from the previous forecast of 2.5% and 2.1%.<\/p>\n
It noted that inflation trends will depend on exchange rates, global oil prices, economic growth, and potential changes in public utility fees.<\/p>\n
The Bank of Korea has also lowered its growth projections, reflecting a sluggish export sector and slowing employment gains.<\/p>\n
The central bank now forecasts economic growth of 2.2% this year and 1.9% in 2025, down from its earlier estimates of 2.4% and 2.1%.<\/p>\n
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With 2nd straight month of cuts, base rate is at 2-year low of 3%. The South Korean central bank on Thursday lowered its base interest rate by 25 basis points to 3%, marking the second consecutive monthly cut and the lowest rate since October 2022. The Bank of Korea cited intensifying downward pressure on economic […]<\/p>\n","protected":false},"author":1,"featured_media":2987,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-2986","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bez-rubriki"],"featured_image_src":{"landsacpe":["https:\/\/relinvestmentsgroup.com\/wp-content\/uploads\/2024\/11\/Bank-of-Korea-2-1140x445.jpg",1140,445,true],"list":["https:\/\/relinvestmentsgroup.com\/wp-content\/uploads\/2024\/11\/Bank-of-Korea-2-463x348.jpg",463,348,true],"medium":["https:\/\/relinvestmentsgroup.com\/wp-content\/uploads\/2024\/11\/Bank-of-Korea-2-300x225.jpg",300,225,true],"full":["https:\/\/relinvestmentsgroup.com\/wp-content\/uploads\/2024\/11\/Bank-of-Korea-2.jpg",1200,900,false]},"_links":{"self":[{"href":"https:\/\/relinvestmentsgroup.com\/en\/wp-json\/wp\/v2\/posts\/2986","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/relinvestmentsgroup.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/relinvestmentsgroup.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/relinvestmentsgroup.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/relinvestmentsgroup.com\/en\/wp-json\/wp\/v2\/comments?post=2986"}],"version-history":[{"count":1,"href":"https:\/\/relinvestmentsgroup.com\/en\/wp-json\/wp\/v2\/posts\/2986\/revisions"}],"predecessor-version":[{"id":2988,"href":"https:\/\/relinvestmentsgroup.com\/en\/wp-json\/wp\/v2\/posts\/2986\/revisions\/2988"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/relinvestmentsgroup.com\/en\/wp-json\/wp\/v2\/media\/2987"}],"wp:attachment":[{"href":"https:\/\/relinvestmentsgroup.com\/en\/wp-json\/wp\/v2\/media?parent=2986"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/relinvestmentsgroup.com\/en\/wp-json\/wp\/v2\/categories?post=2986"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/relinvestmentsgroup.com\/en\/wp-json\/wp\/v2\/tags?post=2986"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}