The Bank of Korea is expected to cut its policy rate for the third time in a row next week in response to growing concerns fuelled by political instability over the president's impeachment. Nineteen of the 26 economists surveyed by the Wall Street Journal predicted the Bank of Korea would cut rates by 25 basis points to 2.75 per cent at its January 16 meeting. Suktae Oh and Kiyong Seong, economists at Socie ́ te ́ Ge ́ ne ́ rale, said: "Concerns about a slowdown in domestic demand as a resul...
According to Yonhap News Agency, the Bank of Korea plans to cut interest rates further next year in response to higher downside risks.
Bank of Korea: The Bank of Korea's monetary policy committee will meet early Wednesday to discuss market stabilization measures.
The Bank of Korea said its monetary policy committee would meet early on Wednesday to discuss market stabilisation measures.
Bank of Korea official: If necessary, we are ready to take sufficient measures to stabilize the market and will release information after the meeting.