South Korea's President Yoon says interest rate cut unavoidable, to align with US

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South Korea's President Yoon says interest rate cut unavoidable, to align with US - Channel News Asia

Quick Summary:

SEOUL : South Korea's President Yoon Suk Yeol on Wednesday said aligning the country's interest rate with the U.S.to some extent is unavoidable in order to prevent capital outflows, nudging the central bank to cut policy rates.

"We are not like Japan are we?

Median forecasts show analysts see the benchmark interest rate will remain unchanged through the third quarter before a 50 basis-point cut in the fourth quarter, as some pushed back their timing of cuts after the stronger-than-expected GDP data.