- South Korea's central bank on Thursday revised up its 2013 growth outlook to 2.8 percent from an earlier forecast of 2.6 percent, reflecting positive effects from the prior policy rate cut and fiscal stimulus package.
Bank of Korea (BOK) Governor Kim Choong-soo told reporters that the bank upgraded its growth outlook for 2013 from 2.6 percent to 2.8 percent as expected. The growth outlook for 2014 was set at 4 percent.
His comments came after the central bank decided to keep its benchmark interest rate on hold at 2.5 percent, keeping its wait- and-see stance for two straight months.
Outlook for consumer price inflation was set at 1.7 percent in 2013 and 2.9 percent in 2014.
Source: Xinhua
