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S. Korea cuts interest rate for first time since Oct

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(Globalpost/GlobalPost)

South Korea unexpectedly trimmed its benchmark interest rate by 0.25 percentage points Thursday -- the first cut for seven months aimed at boosting an economy hit by slumping exports.

The cut announced by the central Bank of Korea leaves the key policy rate at 2.50 percent.

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http://www.globalpost.com/dispatch/news/afp/130510/s-korea-cuts-interest-rate-first-time-oct