Bank of Korea cuts base rate by 25bps

The central bank of South Korea, Bank of Korea, has cut its base rate by 25bps, as expected

• Down to 2.25% from 2.5%
• Was as low as 2% in 2009
• First cut in 15 months

Bank of Korea cut rates to spur growth

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ps. The Pope has just touched down in South Korea for a 5-day visit. Coincidence? I think not …

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pps. The South Korean won rallied hard in response to the rate cut (Yes, you read that correctly).