Foreign Exchange & Fixed Income

Reuters ahead with South Korea slashing rates, planning stabilizing measures

Reuters ahead with South Korea slashing rates, planning stabilizing measures

Reuters was ahead with Bank of Korea slashing interest rates by 50 basis point on March 16 in its first emergency inter-meeting rate cut since 2008, joining central banks from the U.S. to Japan in trying to soften the economic blow dealt by the coronavirus pandemic. Reuters also exclusively reported South Korea’s plans to address dollar shortages in local markets – news that immediately pushed up the won-dollar swap rate. nL4N2B41NW, nL4N2BA1OO