이 누리집은 대한민국 공식 전자정부 누리집입니다.

한상넷

비즈니스 정보

Biz News Korea(Eng)

BOK cuts growth outlook, keeps policy rate at record low

Collected: 2016.04.20

Distributed: 2016.04.21

Source: Go Direct

South Korea’s central bank Tuesday revised down the country’s growth and inflation outlook, and kept its benchmark interest rate unchanged at a record low, as the economy remains lackluster amid sluggish exports and slower than expected recovery in domestic demand.

At Tuesday’s policy meeting, the Bank of Korea lowered its forecast for gross domestic product growth from 3.0 percent to 2.8 percent. Korea’s GDP expanded 2.3 percent in 2012, 2.9 percent in 2013 and 3.3 percent in 2014 before it contracted 2.6 percent last year. In January, the central bank also trimmed the growth outlook from 3.2 percent to 3.0 percent. Meanwhile, it cut the inflation outlook to 1.2 percent from 1.4 percent.

“Global growth and trade outlook was downgraded after (domestic production and exports) grew slower than expected and oil prices plunged,” BOK Governor Lee Ju-yeol said after the monetary policy meeting. But he added uncertainties over the growth path has eased somewhat and expected the economy would start to gradually improve in the second quarter.

The BOK maintained its key policy rate at 1.5 percent for 10 consecutive months. Governor Lee said the current rate is accommodative, but the decision wasn’t made unanimously. Ha Sung-keun, the sole member who called for a rate cut last time, was again in favor of a rate cut during the meeting on Tuesday.

By Lee Sang-duk

Read in Korean

List

Previous: GongCha Korea considers buying parent firm in Taiwan

Next: S. Korea’s KRX lists second most number of firms in the world last year