South Korea has cut interest rates in a surprise move aimed at boosting growth and countering the weak Japanese yen.
Its central bank, the Bank of Korea, lowered its benchmark rate from 2.5% to 2.25%, the first cut in seven months.
South Korean exporters are seeing their price competitiveness suffer after the Japanese government’s recent aggressive policy stance weakened the yen.
Exports, which account for nearly half of the South Korean economy, have also been hit by weak global demand.
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