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Bank of Korea (BoK)

Korea cuts again

The Bank of Korea has slashed interest rates for the sixth time in four months, bringing the cost of borrowing to a record low of 2% and suggesting that further cuts could be in store.

Korea cuts by 75bp on signs of slowdown

The Bank of Korea on Monday slashed its key rate by 75 basis points in a surprise move to counter an economic slowdown. The central bank also broadened its collateral rules to include some mortgage-backed securities on signs of a liquidity shortage.

Seoul moves to stem won slide

The Bank of Korea and ministry of finance issued a joint statement on Monday declaring their intention to intervene to prevent further falls in the foreign exchange market.

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