Bank of Korea cuts 2014 GDP forecast to 3.8% from 4.0% via ForexLive

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

posted via ForexLive