We will also work to ensure that the outcomes and publications of the Bank of Korea’s research can be utilized more productively and effectively for the sake of the national economy. In any country, the results of research undertaken by its central bank should be put to good use by a wide range of economic agents, in the government, academia and the financial markets.
Relatively strong growth in the first-half of 2004 was followed by a slowdown in activity in the second-half. This reflected both the impact of higher oil prices and exchange rate developments. Thus, while growth of 1.8 per cent was recorded in 2004, the highest rate since 2000, the euro area economy lost some momentum during the second-half of the year.