South Korea cuts growth outlook, interest rates amid tariff fears

South Korea's central bank on Tuesday slashed interest rates and its annual growth forecast as it looks to bolster the economy in the face of US tariffs and amid the fallout from President Yoon Suk Yeol's brief declaration of martial law last year. The economy grew less than expected in the final three months of 2024 as Yoon's martial law move hit consumer confidence and domestic demand.

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