Bank of Korea Mulls Cutting Growth Forecast as Headwinds Build
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The Bank of Korea will consider cutting its growth forecast for next year after keeping its benchmark interest rate unchanged today while it assesses weakness in the domestic and international economies.
“It’s difficult for the Bank of Korea to keep its 3.9% growth outlook for 2015,” Governor Lee Ju Yeol told reporters today in Seoul after the central bank held the policy rate at a four-year low of 2 percent. Lee cited weak consumer and business sentiment in Korea and cuts to economic estimates in other countries.