South Korea's central bank left rates unchanged as expected on Thursday, slightly downgrading its growth and inflation forecasts and propping the door open to further easing as it monitors the government's ongoing efforts to craft a supplementary budget.
Interest rates were kept at 1.25% after a surprise rate cut in June, as correctly forecast by 28 out of 29 analysts surveyed by Reuters.
The bank now sees this year's growth at 2.7%, barely changed from 2.8%. Inflation this year is now seen at 1.1%, ticking down from 1.2% forecast earlier.
A supplementary budget to boost flagging growth is being prepared for implementation later in the year.
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Interest rates were kept at 1.25% after a surprise rate cut in June, as correctly forecast by 28 out of 29 analysts surveyed by Reuters.
The bank now sees this year's growth at 2.7%, barely changed from 2.8%. Inflation this year is now seen at 1.1%, ticking down from 1.2% forecast earlier.
A supplementary budget to boost flagging growth is being prepared for implementation later in the year.
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