emirates7 - The central bank on Thursday raised its economic growth forecast for the Republic of Korea to 0.9 percent for this year, reported Yonhap News Agency.

The revision by the Bank of Korea (BoK) marks a 0.1 percentage-point increase from its previous forecast of 0.8 percent issued in May.

Meanwhile, the International Monetary Fund projected a lower growth rate of 0.8 percent for the Korean economy in 2025, while the Organisation for Economic Co-operation and Development forecasted growth at 1 percent.

The Bank of Korea, presenting a slightly more optimistic outlook, kept the key interest rate unchanged at 2.5 percent.