Central Bank cuts South Korea's growth forecast
on 11/01/2013 09:16:28
The Bank of Korea on Friday lowered its 2013 forecast for Asia's fourth-largest economy to 2.8% from 3.2% forecast in October.
The bank said investment by companies would grow more slowly than expected because of uncertainties about the global economic outlook.
Governor Kim Choong-soo said the bank left its key interest rate unchanged at 2.75%.
Mr Kim said growth is dependent on corporate investment as there is not much room for consumers to increase spending.