South Korea’s central bank cut its policy rate for the first time in more than four years as pressure to revive a sluggish economy outweighed concerns about the country’s level of household debt

South Korea's central bank cut policy interest rates for the first time in four and a half years, making a shift away from quashing inflation, currently below its 2% target, to focus on reviving growth.

North Korea’s army said it will take a “substantial military step” to completely cut off its territory from South Korea on Wednesday, after months of fortifying its heavily armed border.

North Korea's military said Wednesday that it is completely sealing off its border with South Korea, cutting rail and road connections and building additional defensive fortifications, state-run media reported.

South Korea's central bank cut interest rates for the first time since mid-2020 on Friday and flagged there was room to reduce further, giving some relief to households that have faced the highest borrowing costs in 16 years.

South Korea’s central bank on Friday cut its policy rate for the first time in more than four years as pressure to revive a sluggish economy outweighed concerns about the country’s level of household debt.

The Bank of Korea cut its benchmark interest rate after local property markets showed signs of cooling and inflationary pressure eased sharply, allowing authorities to finally shift their focus to supporting economic activity.

South Korea’s central bank cut its key interest rate for the first time in more than four years, joining a growing group of global peers in easing monetary policy as it looks to support the economy.

In a significant shift to address South Korea’s lagging economy, the Bank of Korea has reduced its benchmark interest rate for the first time in more than four years. The central bank’s decision reflects growing concerns about sluggish economic growth,