South Korea cut its interest rate

Note: This section contains information in English only.
Source: Bloomberg
© Scanpix/AP
South Korea followed Brazil with interest rate cut as economies around the globe are trying to protect themselves from risks of a deeper economic slowdown by austerity measures in Eurozone and China's weakness. Governor Kim Choong Soo lowered the benchmark 7-day repurchase rate from 3% to 2.75%. Brazil's Selic rate was also decreased by 0.25 percentage points to a historic low 7.25%.  
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