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25 April 2006 S Korea economy in 1Q06 grew faster than forecast South Korea's GDP grew a seasonally adjusted 1.3% in the first quarter of 2006 from the previous quarter, faster than market forecasts of 1.1%, according to the Central bank. The economy was 6.2% higher than a year earlier, which strengthened the chance of the Central bank raising interest rates further. However, a rising won and higher inflation could still persuade the central bank to wait a little longer before delivering the fourth rates increase in a row. The central bank has forecast GDP growth will accelerate to 5.0% this year from 4.0% from 2005.
Economic Research Unit |
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