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Navigation Primary Navigation Home Singapore Asia Pacific World Business Entertainment Sports Technology Top Stories Most Popular Secondary Navigation Singapore Asia Pacific World Search Search: S.Korea c.bank delays GDP forecasts to Friday Reuters - 58 minutes ago SEOUL, Dec 8 - South Korea's central bank said on Monday it would postpone the release of its 2009 economic growth forecasts, originally slated for Tuesday, by a few days until after this week's scheduled interest rate review. The Bank of Korea said in a statement it would now release its first official forecasts on the country's 2009 key economic indicators on Friday, including gross domestic product growth, consumer inflation and current account. Its monetary policy committee is due to set its base rate on Thursday, after lowering it to 4.0 percent by a combined 1.25 percentage points since early October in three steps, including a record, emergency cut of 75 basis points on Oct. 27. " will from now on announce economic forecasts after the monetary policy committee meetings so that the forecasts do not cause unnecessary complications in markets," the central bank said in a statement. Bond traders have said a pessimistic forecast on the economy by the central bank would have increased chances for big additional interest rate reductions ahead. The Ministry of Strategy and Finance has said it would expand fiscal spending and offer more tax cuts to help prevent annual growth in Asia's fourth-largest economy from falling below 4 percent next year from a projected 4.7 percent in 2008. But global investment banks and multinational agencies have recently forecast South Korea's 2009 economic growth at around 3 percent, with some predicting the economy's first decline since the 1997-1998 Asian financial crisis. The Bank of Korea also said in the statement it would now announce forecasts for the next two years instead of only the very next year, and release its forecasts three times a year instead of twice at present. Email Story IM Story Printable View Blog This Recommend this article Average (0 votes) Sign in to recommend this article » Most Recommended Stories » Related Articles: Business Europe stock futures point to sharply higher openReuters - 32 minutes ago S.Korea c.bank to inject $3 billion via Fed creditReuters - 33 minutes ago RESEARCH ALERT-JPMorgan cuts earnings f'casts for UMCReuters - 38 minutes ago China stocks end up 3.6 pct in heavy tradeReuters - 39 minutes ago Spanish stocks - Factors to watch on MondayReuters - 40 minutes ago Most Popular – Business Viewed Diamond thieves pull off 100-million-dollar Paris heist Girl, 8, among 17 dead in Manila shoot-out: police Vinnie Jones gets into bar fight over role in X-Men Oil price falls below $40 Climate change: Sci-fi solutions no longer in the margins View Complete List » Search: Home Singapore Asia Pacific World Business Entertainment Sports Technology Top Stories Most Popular

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