BOK chief sees 2007 growth below 5 percent

Bank of Korea (BOK) governor Lee Seong-tae said Monday 23 October the country's economic growth will fall short of 5 percent next year due to the slowing global economy and sluggish domestic demand.

However, the central bank chief indicated that the BOK will not cut its key short-term rate in the near future, even if the growth rate stays at the 4 percent level.

Lee also said Asia's fourth-largest economy will likely grow about 4 percent in the first half of 2007, but will turn better in the se

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