[Photo] Bank of Korea revises 2018 growth rate forecast to 3%

Following the first meeting of the Bank of Korea’s Monetary Policy Committee this year, the Governor of the Bank of Korea, Lee Ju-yeol, announced in a press conference on Jan. 18 that the economic growth forecast for the South Korean economy was being raised to 3% for 2018. This is 0.1% higher than previous estimates. Governor Lee also said that the outlook for the 2018 inflation rate had been revised downward to 1.7%.