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Possible rate cut

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Structural reforms needed to boost growth potential

Bank of Korea (BOK) Governor Lee Ju-yeol has hinted at lowering the key interest rate to boost the slumping economy amid falling exports and sluggish domestic demand. This means he might change his firm position against any rate cut in favor of monetary easing in the face of growing economic uncertainty.
Marking the 69th anniversary of the BOK's founding Wednesday, Lee said the central bank will take "appropriate measures" to accommodate changes in economic conditions. He stressed the need for such measures, citing two external factors: the escalating U.S.-China trade war and plunging exports of semiconductors.
His possible change of stance is seen as a positive step toward speeding up economic recovery.........

© The Korea Times