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Local think tank lowers economic growth forecast for 2014 Updated: 2014-08-07 06:33:58 KST

And these measures come amid another downgrade on Korea's 2014 growth forecast.
The Korea Institute of Finance projects the Korean economy to grow 3.9 percent, which is point-2 percentage points lower than its last estimate.
The think-tank cited a slower-than-expected recovery stemming from a slow pick-up in the U.S. and China.
Slow domestic demand following April's ferry disaster was also reflected in the downward revision.
The institute also changed its stance on keeping the interest rate frozen and said further monetary easing is an option, this time.
The Bank of Korea holds its rate meeting for August next Thursday.


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