BOK's Lee: Decision to cut rates was not unanimous - Bloomberg

Omkar Godbole FXStreet Contributor

The Bank of Korea (BOK) on Wednesday cut the benchmark interest rate by 25 basis points to 1.25%, as expected.

The decision to cut rates, however, was not unanimous, Governor Lee Ju-yeol said, according to Bloomberg.

Two members were in favor of keeping the interest rate unchanged at 1.5%.

Key points from policy statement

Economic growth to be under July projections.

CPI to move below July projections for a while.

The bank will judge whether to adjust the degree of policy accommodation and observe the effects of two rate cuts.

Author

Omkar Godbole

FXStreet Contributor

Omkar Godbole, editor and analyst, joined FXStreet after four years as a research analyst at several Indian brokerage companies.

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