Korea’s record rates have further to fall, says economist

bank-of-korea
Bank of Korea

The Bank of Korea (BoK) today held the base interest rate at the record low it reached last month, but observers are predicting that the rate has further to fall over the next two months as part of a public policy effort to keep the economy growing.

The central bank last month cut the base rate by 25 basis points to 1.75%. Today's monetary policy statement said the central bank expects the South Korean economy to "show a modest trend of recovery going forward", but that an output gap will "persi

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