Bank of Korea to decide benchmark interest rate today
- 5 years ago
The Bank of Korea will hold a monetary policy committee meeting later this Wednesday morning to decide on its key policy interest rate.
According to Reuters and Bloomberg poll of analysts, South Korea's central bank will likely cut its policy interest rate today to support slowing economic growth and weak price pressures.
And, the first-ever drop in consumer prices and a relentless decline in exports in recent weeks are adding to the case for the central bank to cut interest rates.
Analysts expect the Bank of Korea, which lowered its key rate in July and left it unchanged in August, to reduce the seven-day repurchase rate by 25 basis points to one and a quarter percent matching an all-time low.
According to Reuters and Bloomberg poll of analysts, South Korea's central bank will likely cut its policy interest rate today to support slowing economic growth and weak price pressures.
And, the first-ever drop in consumer prices and a relentless decline in exports in recent weeks are adding to the case for the central bank to cut interest rates.
Analysts expect the Bank of Korea, which lowered its key rate in July and left it unchanged in August, to reduce the seven-day repurchase rate by 25 basis points to one and a quarter percent matching an all-time low.