SEOUL, Oct 11 (Reuters) - South Korea's central bank cutinterest rates for the second time in four months on Thursday,as expected, to nurture Asia's fourth-largest economy through aglobal slowdown.
The Bank of Korea's monetary policy committee cut its baserate by 25 basis points to 2.75 percent, a mediaofficial said without elaborating. Governor Kim Choong-soo isexpected to hold a news conference from 11:20 a.m. (0220 GMT).
The decision, which brought the rate to the lowest in 19months, was in line with the market's expectations: 22 out ofthe 24 analysts surveyed by Reuters had predicted a cut, whilethe remaining two saw no change.
In July, the central bank trimmed the rate by a quarterpoint from 3.25 percent in a surprise move and for the firsttime in more than three years, ending a tightening drive thathad lifted the rate by a total of 125 basis points.
Separately, the Bank of Korea is due to release its revisedeconomic forecasts for the 2012-2013 period later on Thursday,which are widely expected to be a downgrade to its previousprojection made in July as the global slump deepened.
(Reporting by Christine Kim and Se Young Lee; Editing byChoonsik Yoo and David Chance)
Keywords: KOREA ECONOMY/RATES