SEOUL: South Korea's state-run think tank on Thursday (Aug 8) said there was a need for early cuts in interest rates, as it flagged weaker economic growth and inflation amid sluggish domestic demand. In its revised economic forecasts, the Korea Development Institute (KDI) said the economy was expected to grow 2.5 per cent in 2024, down from 2.6 per cent seen three months earlier, while keeping its projection for 2025 at 2.1 per cent. Domestic demand is seen remaining weak and delaying the

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