August 22, 2024 01:05 GMT
MNI BRIEF: BOK Holds Rate, Downgrades GDP, CPI View
MNI (MELBOURNE) - The Bank of Korea board on Thursday decided to keep its policy interest rate unchanged at 3.50%, lowering its 2024 GDP growth outlook 10 basis points to 2.4%, according to press reports.
The Bank also adjusted its 2024 CPI forecast to 2.5% against the 2.6% expected in May, while its 2025 CPI outlook remained flat at 2.1%.
The board’s decision was largely anticipated. (See MNI BOK WATCH: Rate To Hold At 3.5%, Q4 Cut In Focus)
Governor Rhee Chang-yong will address the media shortly.
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