The Bank of Korea’s decision to cut interest rates by 25 basis points (bp) to 5% (together with a similar move by Taiwan and a further 50bp cut by Hong Kong) was not so surprising given yesterday’s coordinated cuts by the world’s major central banks. The decision underlines the extent to which the global financial crisis is casting a shadow on the outlook for the real economy in Asia.
Subscriber content
Read this in full, free
Start a free trial and use one of your 10 free starter credits to unlock this piece.