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S.Korea c.bank cuts rates to boost economy, as expected

SEOUL, Oct 11 (Reuters) - South Korea's central bank cut interest rates for the second time in four months on Thursday, as expected, to nurture Asia's fourth-largest economy through a global slowdown.

The Bank of Korea's monetary policy committee cut its base rate by 25 basis points to 2.75 percent, a media official said without elaborating. Governor Kim Choong-soo is expected to hold a news conference from 11:20 a.m. (0220 GMT).

The decision, which brought the rate to the lowest in 19 months, was in line with the market's expectations: 22 out of the 24 analysts surveyed by Reuters had predicted a cut, while the remaining two saw no change.

In July, the central bank trimmed the rate by a quarter point from 3.25 percent in a surprise move and for the first time in more than three years, ending a tightening drive that had lifted the rate by a total of 125 basis points.

Separately, the Bank of Korea is due to release its revised economic forecasts for the 2012-2013 period later on Thursday, which are widely expected to be a downgrade to its previous projection made in July as the global slump deepened.

(Reporting by Christine Kim and Se Young Lee; Editing by Choonsik Yoo and David Chance)

((christine.kim@thomsonreuters.com)(822 3704 5665)(Reuters Messaging: christine.kim.thomsonreuters.com@reuters.net))

Keywords: KOREA ECONOMY/RATES