BANK OF KOREA SAYS COUNTRY MIGHT FACE ECONOMIC SLUMP THIS YEAR

Highlights –

• BOK cut its policy rate by 0.5 percent.
• BOK forecasts a 0.2 percent on-year contraction in the economy.
• BOK also forecasts the country’s economy to rebound next year by 3.1 percent.

According to a report on The Korea Herald, South Korea’s Bank of Korea (central bank) on Thursday slashed the country’s economic growth outlook for this....