[Photo] BOK lowers S. Korea’s projected growth rate for 2019 to 2.5%

The Bank of Korea (BOK) has adjusted its outlook on the South Korean economy’s growth this year, predicting a growth rate of 2.5%, a decrease of 0.1 percentage point from its initial forecast. The BOK decided to freeze its current interest rate of 1.75%. On Apr. 18, BOK Governor Lee Ju-yeol stressed the need to “wait and see how uncertainties in the external conditions will develop,” rather than “setting the direction of monetary policy in advance.”