BOK cuts key rate once again to record-low 1.5%

By KH디지털2

Published : June 11, 2015 - 10:11

The Bank of Korea lowered the base rate Thursday to a record low of 1.5 percent amid growing concerns that the outbreak of Middle East respiratory syndrome will drag down the nation’s economic growth.

Bank of Korea Gov. Lee Ju-yeol on Thursday. (Yonhap)

In its monthly rate-setting meeting, the Monetary Policy Committee of the central bank decided to cut the base rate by a quarter percentage point, from 1.75 percent, marking the second rate cut this year, according to officials.

The rate has fallen by a cumulative 1 percentage point over the past year, through four rate cuts -- in August and October last year; March and May -- of 0.25 percentage points, each.

By Bae Hyun-jung (tellme@heraldcorp.com)