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South Korea central bank chief says low oil prices positive for economy

Monday, January 5, 2015 - 14:03
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South Korea's central bank governor said low global oil prices are expected to have a positive effect on the economy, although the end results have yet to be seen.

[SEOUL] South Korea's central bank governor said low global oil prices are expected to have a positive effect on the economy, although the end results have yet to be seen.

Bank of Korea Governor Lee Ju-yeol also told reporters on the sidelines of a New Year's event in Seoul that economic situations have changed "considerably" over the past three months when asked aboutt the bank's next economic forecast revision.

Mr Lee did not specify whether the changes have been positive or negative. The Bank of Korea will revise its forecasts on Jan 15.

REUTERS