Bank of Korea lowers rates for the fourth time to spur growth

The Bank of Korea’s recent decision to lower the benchmark interest rate to 2.50% is intended to bolster economic recovery affected by U.S. Tariffs. This follows revised GDP growth forecasts, which have been decreased significantly.

According to Bum Ki Son, an economist at Barclays, future rates may not meet market expectations, predicting another cut by 25 basis points in October. Concerns about slow domestic demand and trade negotiations with the U.S. Persist.