The Bank of Korea surprised investors with a back-to-back interest rate cut Thursday after delivering gloomier growth forecasts in a move that pushed down bond yields, nudged up stocks and buffeted the currency.

South Korea's central bank delivered a surprise interest rate cut on Thursday and signaled more to come, as economic growth faltered and policymakers turned a wary eye to trade risks from a second Donald Trump presidency.

The Bank of Korea (BOK) on Thursday lowered its outlook for South Korea's economic growth next year to 1.9 percent, pointing to a slower-than-expected export growth amid growing concerns over potential changes in the trade policies of the United States and other major economies.