Hyun Song Shin, governor of the Bank of Korea, presides over a plenary meeting of the Monetary Policy Board at the BOK Head Office Building in Jung District, Seoul, on the 27th. Provided by the Bank of Korea. [Financial News] The Bank of Korea said on the 27th that it expects the economy to grow 3.3% this year. That is 1.5 percentage points higher than its forecast in November last year, and 1.3 points and 0.7 points above its estimates in February and May this year, respectively. The Korea Development Institute (KDI) has projected 3.2%, while the Ministry of Economy and Finance has put the figure at 3.0%. The growth forecast for 2027 stands at 2.9%. The outlook for consumer price inflation this year was unchanged from the previous estimate at 2.7%. Next year's forecast is 2.3%.
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