South Korea's Bank of Korea (BOK) cut its benchmark interest rate by 25 basis points from 3.5% to 3.25% on Friday, joining global peers in easing monetary policy, as it seeks to revive growth.
The widely expected move marks the central bank's first cut in more than four years, ending its longest-ever run of keeping rates on hold. It comes after South Korea's inflation rate dropped to 1.6% in September, sitting comfortably below BOK's 2% target.
