Seoul, - South Korea's central bank on Thursday revised up its growth outlook for Asia's fourth-largest economy to 2.6% from 2.5% for 2017.
The Central Bank Chief Lee Ju-yeol said the projection was revised in consideration of changes in domestic and international factors.
The bank also raised its consumer price growth estimate for this year from 1.8% to 1.9%.
Foreign investment banks (IBs) have raised their outlook on South Korea's economic growth for this year, citing a sound recovery in exports. The average growth estimate by 10 IBs including Barclays, Morgan Stanley and Nomura stood at an annual 2.5% at the end of March, up from 2.4% tallied the previous month.
Meanwhile, South Korea's central bank held its key rate steady for April to support the country's growth as it revised up the country's growth forecast for this year.
The Bank of Korea kept its policy rate at an all-time low of 1.25 % for the 10th consecutive month in April after dropping the rate to its lowest level to bolster Asia's fourth-biggest economy. (QNA)
Source: Qatar News Agency