South Korea's central bank, citing weaker exports, Thursday cut the country's growth forecast for this year to 2.4 percent from 3 percent. The latest forecast by the Bank of Korea would the slowest growth rate in three years. The bank said exports, the main stay of the country's economy, were expected to cool because of the euro zone debt crisis as well as the slowdown in China, Yonhap News Agency reported. The bank also lowered its forecast for next year to 3.2 percent from its previous estimate of 3.8 percent. In other actions, the central bank lowered the key interest rate to 2.75 percent from 3 percent, the second such reduction this year. South Korea is Asia's fourth-largest economy after China, Japan and India. Separately, the bank said it plans to keep inflation between 2.5 percent and 3.5 percent over the next three years.
GMT 12:09 2018 Monday ,26 November
Black Friday less wild as more Americans turn to online dealsGMT 15:07 2018 Sunday ,18 November
Refugee host countries discuss UNRWA's financial crisisGMT 17:22 2018 Wednesday ,31 October
Russia climbed to 31st place in Doing Business-2019 ratingGMT 16:53 2018 Wednesday ,17 October
"Putin" We need for collective restoration of Syria's economyGMT 14:02 2018 Friday ,12 October
Govt to announce incentives package for Overseas PakistanisGMT 18:26 2018 Saturday ,06 October
Dubai attracts Dh17.7 billion in foreign direct investmentGMT 09:02 2018 Friday ,21 September
Economy of Georgia demonstrates "strong signs of recovery"GMT 09:03 2018 Wednesday ,24 January
German investor confidence surges in JanuaryMaintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©
Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©
Send your comments
Your comment as a visitor