July 11, 2014 12:04
Bank of Korea Governor Lee Ju-yeol on Thursday warned there is a strong chance that the economy will get worse. The comment came after the BOK froze the interest rates at 2.5 percent once again, and analysts forecast they will be slashed soon.
"The chances of an economic downturn have increased," the governor said at a briefing.
The BOK cut its growth forecast for Korea this year from four percent to 3.8 percent and for next year from 4.2 percent to four percent.
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