With hopes of boosting slowing economic growth and domestic consumption,.... South Korea's central bank decides to lower its key rate by a quarter percentage point... in line with market consensus.
Our Kim Hye-sung starts us off.
The Bank of Korea on Wednesday cut its benchmark interest rate to 1-point-25 percent.
That's the same as its all-time-low rate, which was seen between June 2016 and November 2017.
The central bank began its easing cycle in July when it slashed the key rate for the first time in three years and held rates frozen in August, citing growing uncertainties over the on-going U.S.-China trade dispute and sluggish domestic economy.
Exports in September plunged near 12 percent on-year, making it the tenth consecutive month of contraction due to weak global demand and falling chip exports.
Inflation is also way below the central bank's two percent target.
South Korea's inflation fell point-four percent in September, the first time there has been an annual drop in consumer prices since data releases began in 1965.
It has raised concerns that Korea may enter a prolonged period of deflation, although government officials downplayed the risks, saying the negative figure was a blip due to higher-than-usual food prices last year.
Kim Hyesung, Arirang News.