Korea’s Won Advances as Cut to GDP Forecast Within Expectations

South Korea’s won rose for the first time in four days and 10-year sovereign bonds fell after the central bank downgraded its economic growth forecast by less than what some analysts had expected.

Asia’s fourth-largest economy will expand 2.8 percent in 2015, compared with a 3.1 percent prediction given in April, Bank of Korea Governor Lee Ju Yeol said on Thursday after the monetary authority held the benchmark interest rate at 1.5 percent in a unanimous decision.