In a scheduled report, the Bank of Korea (BOK), the South Korean central bank, told the parliament on Tuesday that Japan’s export curbs on key chip and display production materials were one of the top three risks to the domestic economy.
The report read: “Developments in the U.S.-China trade negotiations, the speed of the global semiconductor industry’s recovery and Japan’s export restrictions are the main risks over the economic growth path.”
Amid S. Korea-Japan trade spat, the BOK last week cut the policy interest rate by 25 basis points to 1.50% in a surprise move and slashed 2019 economic growth forecast to 2.2% from 2.5% seen in April.
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