Bank of Korea Governor Rhee sees potential for rate cuts ...Middle East

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Bank of Korea Governor Rhee sees potential for rate cuts
Earlier in the session the Bank of Korea held its base rate unchanged at 3.5%, as expected maintained its 2024 and 2025 GDP growth forecasts at 2.1% and 2.3%forecasts 2024 CPI at 2.6% and 2025 CPI at 2.1%Governor Rhee comments: Thursday's rate decision was unanimousFive board members said current interest rate should be maintained at least for next three monthsOne board member said door for a rate cut should be opened for the next three months Private consumption worse than earlier expectations, offset by improving exports. This article was written by Eamonn Sheridan at www.forexlive.com.

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