BOK Cuts Key Rate by Quarter Percentage Point, Shifting Focus to Growth.

Seoul: South Korea's central bank slashed its benchmark interest rate by a quarter percentage point Thursday in a clear indication of its policy focus on economic growth amid slowing momentum and external uncertainties, following its first pivot in more than three years in October. The monetary policy committee of the Bank of Korea (BOK) cut its key rate by 25 basis points to 3.0 percent during a rate-setting meeting in Seoul.According to Yonhap News Agency, the decision came a month after the BOK slashed the rate by 0.25 percentage point, citing what it called clear signs of stabilizing inflation.