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Bank of Korea cuts growth, inflation forecasts on instability

Mr Lee says capital-flow volatility will remain large for now on China instability, Federal Reserve policy and oil prices.


THE Bank of Korea (BOK) cut its forecasts for economic growth and inflation and held its key interest rate at a record low as instability from China reverberates in global financial markets.

Governor Lee Ju Yeol faces the task of spurring inflation to a new 2 per cent target