South Korea Makes First Back-to-Back Rate Cuts Since 2009

CENTRAL BANK - SEOUL. South Korea's central bank cut benchmark interest rates for a second straight meeting on Thursday in a surprise move as the economy stalled and inflation slowed more than policymakers predicted.

The Bank of Korea (BOK) lowered its benchmark interest rate by a quarter percentage point to 3.00% at its monetary policy review, an outcome only four of 38 economists polled by Reuters foresaw. All others expected the bank to keep rates unchanged.

Read Also: Stocks, Dollar, Bond Yields Fall; Economic Data, Trump Tariffs in Focus