The Bank of Korea cut its benchmark rate earlier:
More now from the Bank:
- The Bank of Korea will thoroughly assess trade-offs among inflation, growth, and financial stability.
- The South Korean economy is expected to continue moderate growth.
- The Bank of Korea will carefully determine the pace of further cuts to the base rate.
- Uncertainties to the growth path are higher compared to August.
- Domestic consumption recovery has been delayed.
- It is still important to remain cautious of risks such as the impact of rate cuts on household debt.
- South Korea’s 2025 inflation forecast is expected to be consistent with earlier projections.
- Oil price changes and Middle East risks add uncertainties to inflation.
- Housing prices and household debt growth are anticipated to gradually slow.
- Growth in household loans has shrunk.
Looks like more cuts ahead "will carefully determine the pace of further cuts to the base rate".
