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S.Korea cut rates in 6-1 vote in Oct -minutes
October 30, 2012 / 7:21 AM / 5 years ago

S.Korea cut rates in 6-1 vote in Oct -minutes

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SEOUL, Oct 30 (Reuters) - South Korea's central bank cut interest rates in a 6-1 vote at its meeting early this month, with most of the board members expressing concern about the enlarged risks to economic growth, minutes released on Tuesday showed.

Lim Seung-tae was the only member to vote to keep the rates unchanged at the Oct. 11 meeting, citing the need to reserve policy room for a more dire situation.

The Bank of Korea cut the policy rate by 25 basis points to 2.75 percent at the meeting. That marked its second rate cut this year and matched the market's expectations. (Reporting by Christine Kim; Editing by Choonsik Yoo and Ron Popeski)

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