SEOUL: South Korea’s central bank on Thursday cut its economic growth outlook for 2016 to three percent, citing lingering “uncertainties” over a slowdown in key export markets and the won currency.
Volatility on China’s financial markets was also causing shockwaves, Governor Lee Ju-Yeol told reporters, adding that while “the Chinese risk is not unexpected,” global bourses are “reacting dramatically to the huge swings that are beyond expectation.”
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