Bank of Korea lifts national growth forecast to 2.8% for 2017

SEOUL - The Bank of Korea has maintained its policy rate at 1.25% but upgraded its 2017 growth forecast to 2.8% from 2.6% previously. ANZ Bank says the upgrade considers the strength of exports and facilities investment over the first half of the year.

“At the same time, the BoK indicated its intent to maintain its accommodative stance to further nurture the recovery and ensure that inflation is stabilised at its target level over a medium term horizon,” ANZ adds.

“We do not expect any change in the policy rate, at least in the remainder of 2017.”  www.live.anz.com (ATI).