Bank of Korea Governor Lee is out on the wires stating that while Korea’s potential growth rate continues to fall, a rapid economic slowdown is unlikely this year.
The central bank kept interest rates unchanged at 1.75 percent earlier today.
Key quotes
- 2019 exports will still show growth in terms if volume.
- Time not right to consider further monetary easing.
- A downturn in memory chips industry will negatively affect the economy
- Experts say semiconduction demand to improve in the second half.
- 2019 CPI inflation seen at 1.4 percent vs the previous estimate of 1.7 percent
- 2019 GDP growth is seen at 2.6 percent vs the initial estimate of 2.7 percent.
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