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# South Korea's Bank of Korea Cuts Base Rate by 25 Basis Points to 3.00%
- URL: https://www.theglobalbanker.com/south-korea-bank-of-korea-cuts-base-rate-25-basis-points-3-00/
- Published: 2024-11-28T09:22:00.000Z
- Updated: 2026-10-02T14:38:21.000Z
- Description: The Bank of Korea lowered its base rate to 3.00% in a second consecutive cut, citing a softening growth outlook for South Korea.
- Author: TGB Editorial Team
- Tags: Central Banks, Asia-Pacific, #archive

The Bank of Korea reduced its base rate by 25 basis points to 3.00% on 28 November 2024, delivering a second consecutive cut as the Monetary Policy Board cited a softening growth outlook.

The quarter-point reduction brings the policy rate to its lowest level since October 2022\. Officials acknowledged that both external headwinds and subdued domestic demand were contributing to the weaker growth forecast.