Bank of Korea ready to cut rates as inflation slows

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Consumer inflation in South Korea eased in July, reinforcing expectations that the Bank of Korea (BOK) may resume interest rate cuts as the export-driven economy braces the impact of newly imposed U.S. tariffs. Data released Tuesday showed consumer prices rose 2.1% from a year earlier, down from 2.2% in June and line with economists’ expectations. According to Statistics Korea, core inflation—which strips out volatile food and energy prices—remained 2% for a second month. “While inflation is sti...