The weekend was extremely busy in the world of finance. Starting in South Korea, this nation cut its overnight interest rates by 75 basis points to 4.25%. Genuflecting at the altar of low rates/high liquidity, the Bank of Korea cut rates for the 2nd time this month and by the most ever in one move as the country is experiencing drastically lower growth (0.6% GDP) and a shut off of lending to smaller firms.
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