ArrowArtboardCreated with Sketch.Title ChevronTitle ChevronIcon FacebookIcon LinkedinIcon Mail ContactPath LayerIcon MailPositive ArrowIcon PrintIcon Twitter
Economy

Bank of Korea cuts key rate to record low of 0.75%

Move at emergency meeting follows easing steps by Fed and BOJ

South Korea's central bank is expected to cut its benchmark rate to a record low in an emergency meeting on Tuesday.   © Reuters

SEOUL -- The Bank of Korea cut its benchmark rate by 50 basis points to a record low of 0.75%, following other central banks with easing to support a global economy threatened by the new coronavirus outbreak.

The decision at an emergency meeting Monday by the bank's seven-member board is aimed at supporting the country's plunging stock market.

Sponsored Content

About Sponsored Content This content was commissioned by Nikkei's Global Business Bureau.

Discover the all new Nikkei Asia app

  • Take your reading anywhere with offline reading functions
  • Never miss a story with breaking news alerts
  • Customize your reading experience

Nikkei Asian Review, now known as Nikkei Asia, will be the voice of the Asian Century.

Celebrate our next chapter
Free access for everyone - Sep. 30

Find out more