The Bank of Korea (BOK) on Wednesday cut the benchmark interest rate by 25 basis points to 1.25%, as expected.
The decision to cut rates, however, was not unanimous, Governor Lee Ju-yeol said, according to Bloomberg.
Two members were in favor of keeping the interest rate unchanged at 1.5%.
Key points from policy statement
Economic growth to be under July projections.
CPI to move below July projections for a while.
The bank will judge whether to adjust the degree of policy accommodation and observe the effects of two rate cuts.
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