The Bank of Korea cut interest rates by 25 basis points and significantly lowered its GDP forecasts on Tuesday, steering Asia's fourth-largest economy from a restrictive monetary policy stance towards a neutral one to support growth.

On the 25th, the Monetary Policy Committee of the Bank of Korea lowered the base interest rate by 0.25 percentage points to 2.75% per year. After consecutively lowering the rate in October and November of last year and freezing it once last month,

The Bank of Korea (BOK) lowered its benchmark interest rate by 25 basis points to 2.75% on Tuesday, marking the third rate cut in the current easing cycle. The move comes as policymakers shift focus to economic growth