Central bank pessimistic about economic outlookThe Bank of Korea (BOK) shaved this year’s economic growth forecast to 2.2 percent on July 18, three months after the central bank lowered the projection by 10 basis points to 2.5 percent.It marks the first time in four years for the BOK to cut the coun
Central bank takes preemptive step amid trade disputeThe Bank of Korea (BOK) cut its benchmark rate by 0.25 percentage points to 1.5 percent on July 18 to help the sluggish economy deal with the trade tension with Japan. The central bank revised the key rate in eight months – the rate went up by a q
BOK chief stresses 'timely strategies'Bank of Korea Gov. Lee Ju-yeol hinted at the possibility of cutting down the benchmark rate amid the Sino-US trade conflicts, which weigh on Asia’s fourth-largest economy.In a speech commemorating the central bank’s 69th anniversary on June 12, Lee talked about
Central bank argues that economy reboundsThe Bank of Korea (BOK) recently comes up with a rosy view on the Korean economy, which suffered the worst setback in a decade during the first quarter of this year.The central bank said that Asia’s fourth-largest economy bounces back thanks to the growth of
CSI reading slips below 100 in MayKorean consumers’ sentiment over economic situation worsened to the lowest level in four months as the Sino-American trade war continues to negatively affect the country’s economy.The Bank of Korea said May 28 that the composite consumer sentiment index (CSI) stood