South Korea’s central bank cut its policy interest rate for the first time in three years on July 18.
The Bank of Korea voted to cut the base rate by 25 basis points to 1.5%, ahead of expectations in a Reuters poll that it would lower the rate next month. Of 36 analysts surveyed, 21 had predicted it would leave its rate at 1.75%.
Reuters gfhay It was an ill-conceived effort to pander to North Korea.
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