The Bank of Korea on Thursday raised its economic growth forecast for this year to 0.9%, up 0.1 percentage point from the 0.8% projection made in May. This adjustment reflects signs of consumer recovery and reduced uncertainty surrounding U.S. tariff policies.

The central bank's revision represents an increase of 0.1 percentage point from its previous 0.8% forecast released in May.

The adjustment comes amid signs of recovery in private consumption, which has been partially supported by the government's supplementary budget and recent tariff agreements reached with the United States. Experts indicate that these measures have helped South Korea avoid the worst-case scenarios.

The revised forecast aligns closely with projections previously released by the South Korean government.

The International Monetary Fund (IMF) has provided a more pessimistic outlook for South Korea's economic growth this year, projecting a growth rate of 0.8%, while the Organization for Economic Cooperation and Development (OECD) forecasts growth of 1%.

The Bank of Korea maintained its key interest rate at 2.5% unchanged on the same day, while continuing to closely monitor financial stability risks arising from rising housing prices in Seoul and increasing household debt.