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Economic Report

Economic reports, briefs issued by Samsung Economic Research Institute

BOK Lowers Next Year’s Growth Forecast to 3.8%

BOK Lowers Next Year’s Growth Forecast to 3.8%

Oct. 14, 2013

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The Bank of Korea (BOK) lowered its economic growth forecast for next year from 4% (released July) to 3.8%. As major reasons, rising uncertainties in emerging market economies since July and rising international oil prices due to geopolitical risks in the Middle East were cited. In line with this, the central bank's Monetary Policy Committee decided to leave its benchmark interest rate at 2.5% for the fifth consecutive month in October.


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