Arab Today, arab today south korea central bank cuts growth outlook
Last Updated : GMT 03:35:20
Arab Today, arab today
Arab Today, arab today

South Korea central bank cuts growth outlook

Arab Today, arab today

Arab Today, arab today South Korea central bank cuts growth outlook

South Korea's central bank
Seoul - QNA

The South Korean Central Bank cut its growth outlook for this year and said inflation was picking up more slowly than expected, after leaving interest rates unchanged.
Governor Lee Ju Yeol said today the central bank lowered its growth forecast for 2014 to 3.8% from 4%. The BOK held the seven-day repurchase rate at 2.5% for a 14th straight month, it said in a statement in Seoul, according to South Korean news agency (Yonhap).
The central bank slashed its consumer spending growth estimate for this year to 2.3% from an earlier estimate of 3.1%.
The BOK, however, projected growth to gradually pick up in the second half on the back of improved sentiment and a mix of factors such as the Incheon Asian Games and a resumption of school field trips that had ceased after the ferry sinking.
The central bank's revised inflation outlook for the year came in at 1.9%, down from an earlier forecast of 2.1%. The outlook for next year also inched down to 2.7% from 2.8%.
The BOK cited weak agricultural product prices, a strengthening won and a delay in public fee hike as some of the factors that prompted the central bank to lower the inflation forecast.
Current account surplus was projected to reach US $84 billion this year and $70 billion for 2015. Both figures are higher than earlier projections of $68 billion and $58 billion.
In 2013, South Korea saw its surplus widen to a record $80 billion on solid exports.
The Thursday revision is the latest in a series of downward adjustments on the course of Asia's fourth-largest economy. Last month, the Korea Development Institute cut its estimate to 3.7% from 3.9% while the Korea Institute of Finance lowered its outlook to 4.1% from 4.2%.
The finance ministry is also expected to cut its growth outlook for the country, with the details to be included in the second-half economic management plan. Government sources and other experts say the government will lower its growth outlook to the 3.5-3.7% range from 3.9%.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today south korea central bank cuts growth outlook Arab Today, arab today south korea central bank cuts growth outlook

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today south korea central bank cuts growth outlook Arab Today, arab today south korea central bank cuts growth outlook

 



Arab Today, arab today
Arab Today, arab today Youssra depended on colored foam

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam
Arab Today, arab today unveils Joon - the 'millenials' airline

GMT 13:36 2017 Saturday ,23 September

unveils Joon - the 'millenials' airline
Arab Today, arab today Etiquette expert underlines importance of gifts

GMT 17:52 2017 Sunday ,03 September

Etiquette expert underlines importance of gifts
Arab Today, arab today Iran tests new medium-range missile

GMT 21:24 2017 Saturday ,23 September

Iran tests new medium-range missile
Arab Today, arab today Saudi Arabia to unblock internet calling apps

GMT 11:31 2017 Wednesday ,20 September

Saudi Arabia to unblock internet calling apps
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Ministry seeks to improve education

GMT 14:49 2017 Sunday ,17 September

Ministry seeks to improve education
Arab Today, arab today All eyes on May as she prepares

GMT 10:16 2017 Friday ,22 September

All eyes on May as she prepares
Arab Today, arab today Big Western brands polluting oceans

GMT 20:10 2017 Saturday ,23 September

Big Western brands polluting oceans
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today Carmakers face billions in European

GMT 12:37 2017 Saturday ,23 September

Carmakers face billions in European
Arab Today, arab today Mercedes pumps 1 bln euros    

GMT 06:04 2017 Friday ,22 September

Mercedes pumps 1 bln euros    
Arab Today, arab today Lebleba is preoccupied in filming 'Back Street'

GMT 08:56 2017 Thursday ,21 September

Lebleba is preoccupied in filming 'Back Street'
Arab Today, arab today Puerto Rico, Virgin Islands brace

GMT 12:01 2017 Wednesday ,20 September

Puerto Rico, Virgin Islands brace

GMT 08:59 2017 Wednesday ,20 September

Youssra prepares for launching her program

GMT 18:09 2017 Thursday ,21 September

China lifts 10-year travel ban

GMT 16:53 2017 Saturday ,02 September

Mai importance of gifts during Eid Al-Adha

GMT 06:21 2017 Wednesday ,20 September

France hopeful of persuading Trump

GMT 10:46 2017 Saturday ,05 August

Nanis reveals simple ideas for home renovation

GMT 08:39 2017 Friday ,22 September

New Hurdles as Republicans Rush

GMT 06:49 2017 Friday ,22 September

O'Leary: Could ground more planes

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 12:46 2017 Thursday ,21 September

Google likely to buy stake in Taiwan smartphone maker HTC

GMT 11:37 2017 Saturday ,12 August

Fashion designer reveals her new collection
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday