BOK's Lee: Ready to cut interest rates further if needed
|South Korean Central Bank Had Lee said on Tuesday that he was ready to cut interest rates further if needed and added that a situation requiring more policy response after last week's rate cut cannot be ruled out.
The central bank cut delivered a surprise rate cut last Thursday and trimmed this year's growth forecast to the lowest in a decade. The base rate was cut by 25 basis points to 1.50% – the first reduction in three years and lowest since November.
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