South Korea cuts interest rates as concerns grow over Trump's presidency

The Bank of Korea unexpectedly cut interest rates by a quarter-point to 3 percent, marking a rare back-to-back reduction. This decision reflects concerns about the economic impact of Donald Trump's second presidency, amid slowing growth and falling inflation. The central bank revised its growth forecasts down to 2.2 percent for this year and 1.9 percent for next year. The move comes as South Korean businesses face challenges from increased Chinese exports and potential tariffs from the US. Officials in South Korea are worried about Trump's proposed tariffs, which could affect the country's significant trade surplus with the US. The situation has led to increased pessimism among businesses, with many reporting declining profits.