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South Korea cuts interest rates

  •   Thu, May 09 2013 12:42:27 PM

Seoul, May 9 (IANS): South Korea's central bank cut its benchmark interest rate by 25 basis points to 2.5 percent Thursday, altering the base rate for the first time in seven months.

Bank of Korea (BOK) Governor Kim Choong-soo and monetary policy board members unexpectedly lowered the seven-day repurchase rate to 2.5 percent after freezing the rate in the prior month through a 4-3 vote, reported Xinhua.
  

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Title: South Korea cuts interest rates



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