Bank of Korea (BOK)

On Tuesday night in Seoul, the won dropped close to 3%, sending some local traders rushing back to their offices.

The BOK will increase short-term liquidity and take “active” steps in currency markets as needed to ensure stability, it said in a statement following a hastily-called board meeting.

The central bank lowered its seven-day repurchase rate by a quarter-percentage point to 3% in a possible early response to growing trade and economic concerns following Donald Trump’s win.

South Korea is among the world’s most robust exporters, with its technology industry driving earnings from abroad.

20 of 22 economists surveyed by Bloomberg expect South Korea’s central bank to cut the rate by a quarter-percentage-point to 3.25% when the board gathers Friday.

Apartment prices in the Seoul area rose 0.32% last week, the biggest weekly gain since September of 2018.

The other central banks are the Reserve Bank of Australia, Bank of Korea and Bank Negara Malaysia.

SINGAPORE (July 22): Asia’s most stubborn central bank just reversed course. With the US Federal Reserve all but certain to renew its easing cycle at the end of the month, the Bank of Korea (BOK) preemptively cut its benchmark interest rate to 1.5% from