South Korea's consumer sentiment improved in October due to lower interest rates and lower inflation.

In October, South Korea's consumer sentiment improved, with the composite consumer sentiment index rising 1.7 points to 101.7, following a decrease in interest rates and slower inflation. The Bank of Korea lowered its benchmark interest rate to 3.25%, and consumer prices rose 1.6% year-on-year, falling below the central bank's 2% inflation target for the first time in over three years. This shift may positively influence consumer spending.

October 23, 2024
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