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.
Become a client to read more
This is premium content that requires an active Capital Economics subscription to view.
Already have an account?
You may already have access to this premium content as part of a paid subscription.
Sign in to read the content in full or get details of how you can access it
Register for free
Sign up for a free account to:
- Unlock additional content
- Register for Capital Economics events
- Receive email updates and economist-curated newsletters
- Request a free trial of our services