The Monetary Policy Committee of the Bank of Korea decided to lower the rate Interest The main interest rate rose by 25 basis points to 3 percent, during a meeting to set the interest rate in the capital, Seoul.
This decision came a month after Central Bank By reducing interest rates by 0.25 percentage points, indicating what he described as clear signs of stabilizing inflation.
Economists polled by Reuters had expected the Central Bank of Korea to keep interest rates unchanged at 3.25 percent.
Reducing economic growth expectations
In a related context, reduce Central Bank of Korea On Thursday, he raised his forecast for South Korea’s growth this year to 2.2 percent from his previous forecast of 2.4 percent in August. He also lowered his forecast for next year from his previous estimate of 2.1 percent to 1.9 percent amid slowing export growth and weak domestic demand, according to the official Yonhap Agency.
And he expected International Monetary Fund The latest report issued last week estimated that the Korean economy will grow by 2.2 percent this year and 2 percent in 2025.
Regarding By inflationThe Central Bank reduced its expectations for 2024 to 2.3 percent from its previous forecast of 2.5 percent, and its estimates for next year from its previous estimate of 2.1 percent to 1.9 percent.
The central bank lowered its growth forecasts at a time when they were recorded Exportsa key driver of growth, has grown slower than expected in recent months amid falling global demand and uncertainty caused by the new Donald Trump administration.
