Bank of Korea conducts 1st policy pivot in over 3 yrs

SEOUL, 11th October, 2024 (WAM) -- The Republic of Korea's central bank on Friday cut its key benchmark interest rate, its first pivot in its yearslong monetary tightening mode, as inflation continued to moderate and the property market showed signs of cooling, reported Yonhap News Agency.

As widely expected, the Bank of Korea (BOK) slashed its key rate by 25 basis points to 3.25 percent, the first reduction sinc