South Korean central bank sets the lowest interest rate

S

The South Korean central bank is lowering the key interest rate to its lowest ever level due to the damaging impact of the corona crisis on Asia’s fourth economy. Interest will go up by 0.25 percentage point to 0.5 percent.

The Bank of Korea also cut interest rates in March. The country’s economy is expected to contract this year as a result of the corona crisis. A minus of 1.4 percent was already visible in the first quarter of this year compared to the previous period. That is the strongest contraction since the financial crisis. South Korea’s central bank has taken massive support measures against the crisis.


By: Leah Kunze

Leah Kunze just graduated MBA and is proud of it. She is interested in automotive industry and innovations. She well be glad to receive a mail to leah.kunze@economicinform.com

Add comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Recent Posts

Categories

About us

EconomicInform, EconomicInform.com is a product of EconomicInform LLC. We sincerely believe that economics is one of the most interesting and most underappreciated – in terms of getting some enjoyment out of reading the subject articles – sciences. More on that - at the link. Feel free to drop us a line.