Bank of Korea (BOK), South Korea's central bank, on Friday cut its 2012 economic growth outlook for the country to 3 percent from an earlier estimate of 3.5 percent, citing global economic slowdown and external uncertainties caused by Europe's debt crisis.

The Asia's No.4 economy was forecast to grow 3. 8 percent in 2013, down from a prior estimate of a 4.2 percent expansion, according to the BOK.

Market watchers expected the BOK to sharply lower its growth outlook as the unexpected rate cut reflected the worsening of the bank's views over the country's future growth path.

"We were not too surprised at the rate cut coming a bit earlier than expected. The move supports the view that the BOK will cut its 2012 GDP growth forecast from 3.5 percent to about 3.0 percent, " Kwon Young-sun, an economist at Nomura in Hong Kong, said in a report.

The BOK attributed the outlook downgrade to external uncertainties. The bank said jitters in the global financial market will last due to uncertainties stemming from the euro area' s fiscal crisis, noting that growth in both advanced and emerging economies will slow down.

"Uncertainties in the euro area are the biggest risk factor to restrict our economy's growth. We do not expect the uncertainties to deepen further in the second half, but external conditions will not be improved to a great extent," Shin Woon, director general of the BOK said.

沪江英语快讯:韩国银行周五再次调降2012年经济增长率以及通货膨胀预期,理由是全球经济增长放缓以及欧洲债务危机。韩国央行此举令投资者认为该行在周四意外宣布降息后,还将进一步降息。
韩国是亚洲第四大经济体。韩国央行将今年经济增长率预期从4月预测的3.5%调降至3.0%,为三年来最低的经济增长率。韩国央行还将2013年经济增长率预期从4.2%调降至3.8%。

延伸阅读:事实上,韩国央行在4月中旬已经对2012年国内经济增长预测下调0.2个百分点,从3.7%降到3.5%;同时,将通胀率预测下调0.1个百分点,降到3.2%。韩国央行称,目前全球经济回落,外贸及本土需求转弱,加上商品价格趋升,因此调低经济预测。而在当地时间7月12日,韩国央行才刚刚宣布降息,有分析人士指出,鉴于此种情况未来韩国央行也许会进一步放松货币政策以提振本国经济。