BOK Members Tighten Focus on Shoring Up Economic Momentum

The Bank of Korea needs to focus on shoring up an economy that faces a range of risks including Donald Trump’s tariffs, a consumption slump and weakening export momentum, board members said, according to minutes of their meeting last month.

“It’s time to prioritize policies to restore economic sentiment, which has been very weak,” one member was quoted as saying during discussions ahead of the Feb. 25 decision, when the South Korean central bank lowered its benchmark interest rate by a quarter-percentage point to 2.75%.