The Bank of Korea cut rates to 2.75% from 3%, in line with expectations from economists polled by Reuters, trimming rates for the third time in four meetings.

The Bank of Korea lowered interest rates by a quarter of a percentage point on Tuesday, steering Asia's fourth-largest economy away from restrictive monetary policy towards a neutral stance amid mounting growth concerns.

South Korea’s central bank cut its base rate and lowered its growth forecast for this year, as it resumed easing to support a sagging economy.

No change in interest rates is expected when the Federal Open Market Committee is scheduled to set rates again on March 19.

The market’s expectations for the Federal Reserve’s next move on interest rates held steady after the publication of minutes from the Federal Open Market Committee's January meeting. Traders are still expecting an extended pause on rate cuts with the next quarter-point reduction coming in July,

The US Federal Reserve is expected to cut interest rates twice in 2025, which could boost Bitcoin’s price as investors favor riskier assets because of their potential for higher returns.