The Central Bank of South Korea lowered base rate by 2,5%

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The Central Bank of South Korea made an unexpected for the market decision. For the first time in the last three years, it lowered the key rate by 0.25 percentage points to 1.5%. In a statement, the Central Bank noted a slowdown in the growth of exports and domestic investment, as well as increased volatility in financial markets amid a trade conflict between the United States and China. Restricting the supply of certain technologies from Japan also has a negative impact on the economy of South Korea. The forecast for the growth of South Korean GDP in 2019 was reduced from 2.5% to 2%.

 

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