FILE PHOTO: The logo of the Bank of Korea is seen on the top of its building in SeoulMore

By Cynthia Kim and Joori Roh

SEOUL (Reuters) – South Korea’s central bank held its policy interest rate at a record low on Thursday but signaled strong appetite for further cuts and unconventional policy to combat the economic hit from the coronavirus pandemic.

The Bank of Korea slashed interest rates by 50 basis points to a fresh low of 0.75% on March 16, in its largest policy easing since the global financial crisis.

On Thursday, Governor Lee Ju-yeol said another cut could be necessary as the bank sees Asia’s fourth-largest economy posting growth of less than 1% this year, below its earlier projection of 2.1%. The new projection

Read More At Article Source | Article Attribution