The Bank of Korea lowered interest rates by a quarter of a percentage point on Tuesday, steering Asia's fourth-largest economy away from restrictive monetary policy towards a neutral stance amid mounting growth concerns.

The Bank of Korea cut rates to 2.75% from 3%, in line with expectations from economists polled by Reuters, trimming rates for the third time in four meetings.

BANK of Korea governor Rhee Chang-yong signalled more policy easing to come this year as the central bank cut its benchmark interest rate to support an economy jolted by political turmoil and threatened by Donald Trump’s tariff plans.

The Bank of Korea’s rate cut decision was unanimous, but the timing of future moves is uncertain amid turmoil at home and abroad. The GDP outlook for 2025 was revised down to 1.5%, with CPI unchanged at 1.9%.

SEOUL -- South Korea's central bank cut its key interest rate by one quarter of a percentage point to 2.75% on Tuesday amid projections of weak growth in Asia's fourth-largest economy. The decision was in line with expectations. Of 36 economists polled by Reuters from Feb. 14 to Feb. 20, all but one predicted a rate decrease of 25 basis points.

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South Korea's central bank on Tuesday slashed interest rates and its annual growth forecast as it looks to bolster the economy in the face of US tariffs and the fallout

The Bank of Korea cut rates to 2.75% from 3%, in line with expectations from economists polled by Reuters, trimming rates for the third time in four meetings.

Gov. Rhee Chang-yong speaks during a press conference following the Monetary Policy Board meeting at the central bank's headquarters in Jung District, central Seoul, on Feb. 25. [JOINT PRESS CORPS] The Bank of Korea (BOK) sharply lowered its economic growth forecast,