Bank of Korea chief: 2019 GDP growth likely to miss forecastChristian Fernsby ▼ | September 30, 2019
South Korea's central bank chief said economic growth this year would likely miss the bank's 2.2% forecast.
Asia Bank of Korea Governor Lee Ju-yeol
Topics: Korea GDP
His remarks were embargoed until midday on Sunday.
In July, the central bank trimmed its forecast for economic growth this year to 2.2% from 2.5% previously and cut the policy interest rate by 25 basis points to 1.50%, its first cut in three years.
But the new forecast was already above projections by private-sector organisations, set as low as 1.4%, and economic indicators since then have showed increasing negative risks to Asia's fourth-largest economy. ■