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Mers deaths add to Korea rate cut odds as firms brace for impact

Rate reduction will also help reverse won's rally against yen, which is making it tougher to compete as exports fall

Published Tue, Jun 9, 2015 · 09:50 PM
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Seoul

A DEADLY virus that's killed seven South Koreans and put almost 3,000 in quarantine is bolstering the case for lower interest rates.

The spread between three-month certificates of deposit and similar- term CD forward contracts widened to minus 19 basis points on Tuesday, near the average of minus 20 seen the day before rate cuts in March, October and August.

Citigroup Inc and Morgan Stanley expect a June 11 cut while JPMorgan Chase & Co expect one…

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