Australia, Korea Central Banks Harbor Doubts on Global Outlook

The central banks of Australia and South Korea said the world economic outlook has become clouded, boosting their scope to slow the pace of future rate increases.

There is “more uncertainty over the global outlook than there had been earlier in the year,” the Reserve Bank of Australia said in minutes of its Aug. 3 meeting in Sydney today. Bank of Korea Governor Kim Choong Soo echoed that view, saying in a speech that markets “may prove turbulent in the future.”