South Korea raises growth fore­cast

China Daily (Hong Kong) - - BUSINESS -

South Korea’s cen­tral bank on Thurs­day raised its 2017 growth fore­cast for the econ­omy, to re­flect the al­tered eco­nomic sit­u­a­tion at home and abroad. Bank of Korea Gov­er­nor Lee Ju-yeol an­nounced the up­ward re­vi­sion, fol­low­ing a rate-set­ting meet­ing where Lee and other mone­tary pol­icy board mem­bers de­cided unan­i­mously to freeze the bench­mark rate at an all-time low of 1.25 per­cent. The rate was low­ered to the cur­rent level in June last year. The BOK’s growth out­look for this year was re­vised up to 2.8 per­cent, from the 2.6 per­cent tar­get un­veiled three months ear­lier. The BOK’s up­graded out­look was higher than the fig­ures dis­closed by lo­cal eco­nomic think tanks, which ranged from 2.5 per­cent to 2.6 per­cent.

Newspapers in English

Newspapers from China

© PressReader. All rights reserved.