S.Korea central bank discussing possible emergency meeting to cut policy rate

SEOUL, March 13 (Reuters) – South Korea’s central bank on Friday said its seven-member committee is discussing whether to hold a rare inter-meeting review to cut policy interest rates .

The Bank of Korea has not delivered an emergency rate cut since October 2008, when Asia’s fourth largest economy was reeling from the global financial crisis.

A 25-basis-point cut would take the base rate to 1.00%, the lowest since the BOK adopted the current policy system in 1999.

The central bank also said it may expand open market operations to inject liquidity into money markets if needed.

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