( ) -q-24- UNDATED (Correspondent Jeremy House) “the COVID-19 pandemic.” South Korea’s central bank cut its policy rate for the first time in more than four years. [CutID: <Cuts> SOUTH-KOREA-ECONOMY-house-q-FRIam.mp3 Time: 24s Title: SOUTH-KOREA-ECONOMY-house-q-FRIam Out-cue: the COVID-19 pandemic] TAG: Correspondent Jeremy House reporting. The bank raised the rate by a quarter percentage point in August […]
Audio
South Korea tries to kick-start its economy
( ) -q-24- UNDATED (Correspondent Jeremy House) “the COVID-19 pandemic.”
South Korea’s central bank cut its policy rate for the first time in more than four years.
[CutID: <Cuts> SOUTH-KOREA-ECONOMY-house-q-FRIam.mp3
Time: 24s
Title: SOUTH-KOREA-ECONOMY-house-q-FRIam
Out-cue: the COVID-19 pandemic]
TAG: Correspondent Jeremy House reporting. The bank raised the rate by a quarter percentage point in August 2021 over concerns about inflation and soaring household debt, driven in part by skyrocketing house prices, and then froze rates for over three years.
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VERBATIM: The rate cut comes as pressure to revive a sluggish economy outweighs concerns about the country’s level of household debt. The Bank of Korea lowered its key interest rate by a quarter percentage point to 3.25% following a meeting of its monetary policy committee. It was the committee’s first move to lower borrowing costs since May 2020, when the economy was weathering the COVID-19 pandemic.