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S. Korea's central bank lowers 2016 growth forecast to 3.0 pct

Xinhua, January 14, 2016 Adjust font size:

South Korea's central bank on Thursday revised down its 2016 growth forecast for the economy to 3.0 percent from an earlier estimate of 3.2 percent.

Bank of Korea (BOK) Governor Lee Ju-yeol told a press conference after deciding to freeze the benchmark interest rate at an all-time low of 1.5 percent that such downward revision has been made.

The BOK outlook was lower than the finance ministry's forecast of 3.1 percent, but it was higher than the figures from most of economic think tanks ranging from 2.5 percent to 2.8 percent. Endit