The Traderszone Network

Published in TZ Latest News 11 March, 2015 by The TZ Newswire Staff

Asian shares rise as South Korea cuts rates

A surprise interest rate cut by South Korea’s central bank on Thursday helped lift an index of Asian stocks away from the previous session’s seven-week lows, while the prospect of higher U.S. interest rates buoyed the dollar. The Bank of Korea’s monetary policy committee cut its base rate (KROCRT=ECI) by 25 basis points to a record low of 1.75 percent, its first cut in five months. The Bank of Thailand cut its policy interest rate on Wednesday, also a surprise step, and India has cut rates twice this year. The Korea Composite Stock Price Index (KOSPI) (.KS11) added 0.4 percent.