Korea bank minutes suggest other imminent reduced interest rate

Seoul (Reuters), most members of the Korean Bank Council, evaluated the heads of the South Korea economy, growing faster than expected, a factor that would justify more interest rate cuts, minutes of the meeting last month.

“With the economic growth of this year, which is expected to be reduced to previous forecasts due to economic slowdown, the need for preventive interest rate cuts is growing,” said one of the seven members of the Board, according to the minutes of the April 17 rate review.

The Bok members council, on April 17, celebrated the reference interest rate of 2.75%, as expected in its review of monetary policy and said that it would reduce May rates to deal with the “important” risks for the economy of the President of the United States, Donald Trump.

Most economists responded by Reuters expect the Bok to reduce the reference interest rate to 2.25% by the end of the third quarter of this year, as the change in American rate policy feeds the fears of a global recession and threatening to reduce the exports of the fourth largest economy in Asia.

Bok Next reviews the interest rates of May 29 politics.

(Report by Cynthia Kimediting by Ed Davies)