South Korea's inflation rate rose to 1.5% in November, up from a 45-month low of 1.3% in October, but fell short of the 1.7% forecast by economists. The Bank of Korea cut interest rates by 25 basis points to 3%, marking its first consecutive cuts since 2009, to address economic risks amid a weakening won and slowing exports. The central bank also revised its inflation outlook for 2024 and 2025 down to 2.3% and 1.9%, respectively, citing stable prices due to declining global oil prices and subdued demand.
