The Bank of Korea cut rates to 2.75% from 3%, in line with expectations from economists polled by Reuters, trimming rates for the third time in four meetings.

The Bank of Korea lowered interest rates by a quarter of a percentage point on Tuesday, steering Asia's fourth-largest economy away from restrictive monetary policy towards a neutral stance amid mounting growth concerns.

The market’s expectations for the Federal Reserve’s next move on interest rates held steady after the publication of minutes from the Federal Open Market Committee's January meeting. Traders are still expecting an extended pause on rate cuts with the next quarter-point reduction coming in July,

South Korea’s central bank cut its base rate and lowered its growth forecast for this year, as it resumed easing to support a sagging economy.

The Bank of Korea lowered interest rates by a quarter of a percentage point on Tuesday, cutting rates for a third time in the current easing cycle as growth concerns take centre stage. The Bank of Korea (BOK) cut its benchmark interest rate to 2.

The Bank of Korea cut rates to 2.75% from 3%, in line with expectations from economists polled by Reuters, trimming rates for the third time in four meetings.

The Bank of Korea (BOK) lowered its key interest rate by 25 basis points to 2.75 percent on Tuesday, citing persistently weak domestic demand and growing concerns over slowing economic growth due to the country’s declining export momentum.