免费av毛片,日韩av高清在线播放,97国产精品最好的产品,欧美成人免费一区二区三区,神马午夜一区,曰河南少妇对白视频,欧美自拍视频

Global General

Special

Newsmaker

Asia Pacific

America

Middle East

Europe

Africa

SKorean central bank slashes key interest rate

(Agencies)
Updated: 2008-12-11 10:01

SEOUL, South Korea -- South Korea's central bank carried out its biggest interest rate cut ever Thursday, slashing borrowing costs by a full percentage point to a record low in a bid to stave off possible recession.

Lee Seong-tae, governor of the Bank of Korea, uses his laptop during a meeting to decide a benchmark call rate at its headquarters in Seoul, South Korea, Thursday, Dec. 11, 2008. The central bank said it was slashing its benchmark seven-day repurchase rate to 3 percent from 4 percent during a regular policy meeting Thursday. [Agencies]

The Bank of Korea said it was slashing its benchmark seven-day repurchase rate to 3 percent from 4 percent during a regular policy meeting Thursday.

It was the fourth time for the bank to lower the rate in the past two months and exceeded the 0.75 percentage point emergency cut on October 27, previously the largest one.

The rate has gone from 5.25 percent to 3 percent since the cycle of easing began on October 9.

The previous record low for the bank's benchmark rate was 3.25 percent last seen in October 2005.

South Korea's economy slowed in the third quarter and economists are predicting it could falter further next year amid global economic weakness.