Next year's growth rate will fall to 1%.Interest rates 'surprise' fall in a row

[Anchor]
As exports that we believed were shaken, our economic growth rate also sank.

BOK 'surprisingly' slashed key rate to boost economy, expecting growth next year and next year to fall by around 1%.

I'm reporter Lee Hyungwon.

[Reporter]
The Bank of Korea has lowered its key interest rate again in defiance of market expectations.

The 0.25 percentage point 'surprise' cut following last month brought interest rates down to 3 percent.

The streak of cuts has been 15 years since 2009, when the global financial crisis was in full swing.

Although there was a lot of burden of reduction due to exchange rate instability, interest rate gap between Korea and the U.S., and household debt embers,
Four out of six Monetary Policy Committee members supported the cut under downward pressure beyond
.

[Lee Chang-yong / Governor of the Bank of Korea: The growth rate of exports is expected to be significantly lower than expected, partly reflecting the structural problems of intensifying export competition with major countries in key sectors and uncertainties in the trade environment that have grown since Trump's election.]

In fact, the economy is already shrinking.

After the negative second quarter, the growth rate for the entire year was lowered to 2.2% due to the 0.1% growth "shock" in the third quarter.

It has lowered its previous forecast by 0.2%p in just three months, and the problem is ahead.

This is because thin ice is expected to be 1.9% next year and 1.8% next year, which is less than the potential growth rate.

The growth rate was below 2%, only during emergency situations such as the foreign exchange crisis, the global financial crisis, and the COVID-19 epidemic.

[Lee Chang-yong / Governor of the Bank of Korea: The growing uncertainty will depend on which policy and which order the new U.S. government will use in the coming years, so this number is likely to change again in February due to the high uncertainty....]

Considering this, three out of six members of the Monetary Policy Committee have even left open the possibility of further interest rate cuts.

I'm Lee Hyungwon of YTN.

Filmmaker: Kwon Seok-jae

Design:im Byul