South Korea cuts its growth forecast

Note: This section contains information in English only.
Source: Bloomberg
The Bank of Korea cut its economic expansion forecast for year 2012 citing surging Spanish borrowing costs European austerity measures as factors that are likely to hamper demand for South Korean exports. The central bank lowered growth forecast from 3.7% to 3.5%. Bank of Korea's representatives also expect a 0.3% contraction across Euro Zone this year. 
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