Bank of Korea forecasts GDP will contract by 1.3%

bank-of-korea
The Bank of Korea

The Bank of Korea cut its 2020 growth forecast at its latest monetary policy meeting on August 26, leaving interest rates on hold at 0.5%.

Since the start of the year, the South Korean central bank has reduced interest rates by 75 basis points from 1.25% to 0.5%. The Bank of Korea’s monetary policy committee last reduced interest rates at its May meeting.

It now expects GDP to contract 1.3% in 2020, instead of the 0.2% forecast in May. It also raised its 2020 inflation forecast from 0.3% to 0

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact [email protected] or view our subscription options here: http://subscriptions.centralbanking.com/subscribe

You are currently unable to copy this content. Please contact [email protected] to find out more.

To continue reading...

You need to sign in to use this feature. If you don’t have a Central Banking account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here: