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S Korea freezes rates, raises economic outlook

Central bank keeps base rate unchanged for 10th straight month at 1.25%; raises GDP forecast for 2017 to 2.6% on the back of improving exports and indicators

"When considering the growth and inflation path going forward, it is true the need for rate cuts has diminished. However we will keep an accommodative stance to support economic growth." - Lee Ju-yeol, BOK governor


SOUTH Korea's central bank raised its growth outlook for this year and kept interest rates unchanged at a record low for a 10th straight month on Thursday, while its governor shifted policy to a more hawkish stance.

The Bank of Korea's monetary policy committee held its base

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