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The Bank of Korea is set to cut interest rates to boost South Korea’s faltering economy.
The Bank of Korea (BOK) is expected to cut its policy rate by 0.25 percentage points next week to support South Korea's struggling economy, according to a poll by Yonhap Infomax.
This move follows weak domestic demand and a potential drop in the country's yearly growth rate below its 2% potential.
The BOK is set to present a revised growth forecast on Tuesday, which may lower the expected growth rate to around 1.6% from the previous 1.9%.
Business sentiment in the country has also reached its lowest point in over four years.
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El Banco de Corea está dispuesto a recortar los tipos de interés para impulsar la economía vacilante de Corea del Sur.