Posted by: youngragingbull | May 9, 2013

Bank of Korea cuts key interest rate to 2.5%

The Bank of Korea on Thursday cut its key interest rate by a quarter-point to 2.5%. Economists polled by Dow Jones Newswires had expected the central bank to hold the rate at 2.75%, where it had been since October. Korean stocks were higher after Thursday’s rate decision, with the Kospi Composite Index up 0.3% at 1,962.05.

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