Korea’s Central Bank Cuts Key Rate to Record Low 1.5 Pct amid MERS Fear

SEOUL, June 11 (Korea Bizwire) — South Korea’s central bank on Thursday lowered the base rate to a record low of 1.5 percent amid growing concerns the country’s first-ever outbreak of Middle East Respiratory Syndrome (MERS) will likely dent growth and consumption. In the monthly rate-setting meeting, the Monetary Policy Committee of the Bank of Korea (BOK) [...]