South Korea's central bank has lowered its key interest rate to a record low as it tries to bolster a fragile economic recovery.
The Bank of Korea said Wednesday it trimmed the key rate by a quarter of a percentage point to 2 percent. It was the second rate cut this year after the central bank lowered lending costs in August.
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Analysts had expected another rate cut as South Korea's finance minister continued to say the recovery in Asia's fourth-largest economy was fragile. The weak yen and a slow recovery of capital spending were also expected to dent the recovery of the export-driven economy.
In February 2009, the bank lowered its policy interest rate to 2 percent in the wake of the global financial crisis.