In its first revision since the election of a new president, South Korea cuts its 2013 GDP...

|By:, SA News Editor

In its first revision since the election of a new president, South Korea cuts its 2013 GDP growth forecast to 3% from September's 4% estimate. Growth for 2012 is now expected at 2.1% vs. a 3.3% previous estimate. Promising the support the economy, the Bank of Korea says it's also worried about imbalances arising from an extended duration of monetary accommodation.

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