Political uncertainty + weak domestic demand, South Korea's central bank lowers GDP forecast for 2025
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The Bank of Korea has lowered its GDP forecast for 2025 to 1.6%-1.7%, down from 1.9% in November last year. This adjustment is influenced by political uncertainty and weak domestic demand. The economic growth rate for last year is expected to be 2.0%-2.1%. The central bank governor stated that maintaining the benchmark interest rate at 3% is a difficult decision, and a rate cut may be considered within the next three months
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