South Korea’s central bank cuts borrowing costs to nurse the sluggish economy

News Snapshot:

People wearing face masks walk by the headquarters of the Bank of Korea in Seoul, South Korea, Thursday, May 28, 2020. (AP Photo/Ahn Young-joon) SEOUL, South Korea — South Korea’s central bank cut its key interest rate and sharply lowered its growth outlook for the country’s economy in 2025, as it moved Thursday to counter U.S. President Donald Trump’s tariff hikes and weak domestic demand worsened by recent political turmoil. Following a monetary policy meeting, the Bank of Korea cut its benchmark interest rate by a quarter percentage point to 2.5 per cent. It was its fourth cut since October,...