South Korea makes first back-to-back rate cuts since 2009

Quick Summary:

SEOUL: South Korea's central bank cut benchmark interest rates for a second straight meeting on Thursday in a surprise move as the economy stalled and inflation slowed more than policymakers predicted.

For next year it sees the economy expanding 1.9%, weaker than its 2.1% outlook before.

It also sees consumer inflation at 2.3% for this year, slower than 2.5% forecast previously.

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Article Details

Category: EconomyBusiness

Markets: MalaysiaSouth Korea

Topics: Bank of Korea /Business/Business News Interest rate Economy

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-11-28 @ 09:57:00 (2 hours ago)

News Timezone: GMT +8:00

News Source URL: thestar.com.my

Language: English

Article Length: 371 words

Reading Time: 3 minutes read

Sentences: 18 lines

Sentence Length: 21 words per sentence (average)

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Copyright Owner: © The Star

News ID: 23911405

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