Market News
Bank of Korea board wary of faster loss of economic momentum, minutes show - REUTERS
SEOUL, March 18 (Reuters) - Most of the Bank of Korea's board members assessed Asia's fourth largest economy was losing steam faster than expected due to sluggish domestic spending and uncertainties from U.S. tariff policies, minutes from its previous meeting showed on Tuesday.
The BOK cut interest rates by 25 basis points (KROCRT=ECI) to 2.75% and significantly lowered its GDP forecasts on February 25, taking the economy from a restrictive monetary policy stance towards a neutral one to support growth.
