
South Korea cuts policy rate to 2.50 pct amid dimmer growth outlook
Seoul, May 29 (UNI) South Korea’s central bank on Thursday cut its policy rate by a quarter percentage point amid a dimmer growth outlook for the Asian economy. Bank of Korea (BOK) Governor Rhee Chang-yong and other monetary policymakers decided to lower the benchmark seven-day repurchase rate to 2.50 percent from 2.75 percent. It was…