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South Korea's central bank warns spread of coronavirus may hurt private consumption

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A Bank of Korea official on Wednesday said worries over the spread of a virus that emerged in central China may impact domestic consumer spending.

[SEOUL] A Bank of Korea official on Wednesday said worries over the spread of a virus that emerged in central China may impact domestic consumer spending.

"With the case of the Middle East Respiratory Syndrome, people didn't go out much and travelled less, so spreading of the new virus may shrink consumption in that regard," a BOK official said in a press conference.

South Korea in 2015 drew up a supplementary budget to help the economy cope with the effects of the outbreak of the Mers.

The virus in China, originating in the central city of Wuhan at the end of last year, has spread to Beijing, Shanghai and elsewhere, and cases have also been confirmed in Thailand, South Korea, Japan and Taiwan. Six people in Wuhan have died.

REUTERS

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