Zuid-Korea verlaagt rente plotseling

South Korea's central bank cut interest rates for the first time in seven months on Thursday, confounding the expectations of most market analysts that it would leave rates unchanged as recent economic indicators suggested that growth for Asia's fourth-largest economy remained subdued.

The Bank of Korea's monetary policy committee cut its base rate by 25 basis points to 2.50 percent, a media official said without elaborating. Governor Kim Choong-soo is due to hold a news conference from 11:20 a.m. (0220 GMT).