Some news from Korea today in the wake of them leaving interest rates unchanged earlier, Comments from head of the central banK:
- Says downside risk to economy bigger than upside risk
- 2014 GDP growth, inflation forecasts downgraded
- Thursday’s rate decision was not unanimous
- 2014 GDP growth forecast cut to 3.8 pct vs prev 4.0 pct
- 2014 inflation forecast cut to 1.9 pct vs prev 2.1 pct
- Growth forecasts downgrade mostly due to effect from ferry accident
- Current policy interest rate at accommodative level
- Negative output gap may have expanded
via Reuters
