Bank of Korea cuts key rate as growth expectations wane

25-basis point cut comes less than week before snap presidential election

20250528 bok

South Koreans will vote in a snap presidential election on June 3. (Photo by Ahn Seong-bok)

STEVEN BOROWIEC

May 29, 2025 10:23 JST

SEOUL -- South Korea's central bank cut its key policy rate 25 basis points to 2.50% on Thursday as it seeks to boost flagging growth.

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