South Korea central bank switches tack to encourage growth

South Korea’s central bank said it was now directing policy at lifting economic growth, as a survey showed the manufacturing sector shrank by the most in nearly four years, adding to the case for an interest rate cut next week.

The Bank of Korea’s comment, contained in its compulsory policy report to parliament on Tuesday, marked a shift in emphasis toward encouraging growth, unlike the statement last month that had stressed achieving price stability as an objective.

via Business feed http://www.scmp.com/business/economy/article/1052226/south-korea-central-bank-switches-tack-encourage-growth