S. Korea cuts interest rate to record low 1.5 percent

01:42 PM | 11 Jun, 2015
S. Korea cuts interest rate to record low 1.5 percent
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SEOUL (APP) - South Korea's central bank slashed Thursday its benchmark interest rate by a quarter basis point to another all-time low of 1.5 percent as a growing MERS outbreak sparked concerns over the economy.

It was the first cut since March when the Bank of Korea (BOK) made a surprise 0.25 basis point rate cut, pushing it to a then-record low of 1.75 percent.