Bank of Korea Cuts Rates for Fourth Time Amid Economic Slowdown

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2025-05-29 07:14:02

The Bank of Korea lowered its benchmark interest rate by 25 basis points to 2.50%, marking its fourth cut since October 2024 as it seeks to stimulate an economy grappling with weak domestic demand and U.S. trade pressures. The decision, widely anticipated by economists, reflects growing concerns over South Korea’s growth trajectory—now projected at just 0.8% for the year, down sharply from February’s 1.5% forecast.

Monetary policymakers cited persistent political uncertainty and the Ripple effects of Trump-era tariffs as key drivers for the easing cycle. Six of seven board members had signaled readiness for this move after holding rates steady in April to assess currency stability. The won has remained under pressure amid global risk-off sentiment.

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