South Korea’s central bank cuts its key interest rate by a quarter percentage point to 2.5%, marking its fourth cut since October, and sharply lowered its 2025 growth forecast to 0.8%, nearly halving the previous projection of 1.5% announced in February after a monetary policy meeting. Share prices rise following the report, with the Kospi gaining 1.7%.
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May 29, 2025 (Thursday)
1.7 minutes to read
Business and economy
Disasters and accidents
Four people are killed when a South Korean Navy Lockheed P3-C Orion aircraft crashes into a hill in Pohang, Gyeongsang, South Korea.
Health and environment
The health ministry of Khartoum State in Sudan reports a cholera outbreak in the state, with 2,119 cases and 242 deaths in the past week and this week, including 70 in the last two days.
International relations
Israel announces 22 new settlements in the occupied Palestinian West Bank, the biggest expansion in decades.
Law and crime
Slovakia’s central bank chief, Peter Kažimír, a member of the European Central Bank committee, is convicted of bribery and fined 200,000 euros. The verdict was issued by Judge Milan Cisarik at the Special Criminal Court in Pezinok.
A court in Argentina nullifies the ongoing trial of Diego Maradona's former medical personnel accused of malpractice following the removal of one of the trial's judges for alleged lack of impartiality.
Argentine security minister Patricia Bullrich announces the arrest of 12 alleged members of Tren de Aragua, which Argentina recently designated as a terrorist organization.
U.S. president Donald Trump commutes the federal prison sentence of Larry Hoover, the founder of the Chicago street gang Gangster Disciples, who was sentenced to six life sentences on conspiracy, extortion, drug and other criminal charges in the 1990s.
Arnolfo Teves Jr., the main suspect in the assassination of Negros Oriental governor Roel Degamo in 2023, is deported back to the Philippines from Timor-Leste following his arrest yesterday.
Politics and elections
Early voting begins in South Korea, from 6:00 am to 6:00 pm KST on today and tomorrow, with a record early voting turnout rate being observed.
Tens of thousands of people demonstrate in Kathmandu, Nepal, asking for the restoration of the country's monarchy and for Hinduism to be declared the state religion. Nepal abolished its monarchy in 2008.
Portugal’s far-right Chega party becomes the lead parliamentary opposition with the second-most seats in parliament.
Elon Musk announces on X that he will be leaving US government employment due to the limit on special government employees.
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