Bank of Korea keeps 2014 growth outlook at 3.8%

South Korea's central bank on Thursday retained its economic growth forecast for 2014 at 3.8 % but lowered the year's inflation outlook amid stable agricultural prices.The growth projection by the Bank of Korea (BOK) is lower than the government's 3.9 %. The Korean economy is estimated to have grown 2.8 % last year, according to the central bank and the government. The BOK said that Asia's fourth-largest economy is likely to grow 4 % in 2015.The BOK cut its 2014 inflation estimate to 2.3 % from its earlier estimate of 2.5 %. The central bank's 2015 consumer prices projection is 2.8%.