Time now for an in-depth look at the market news this afternoon.
And for that, I'm joined on the line by Dr. Yang Jun-sok, professor of economics at the Catholic University of Korea.
Professor Yang, thank you for making time today.
Stocks in New York down on Tuesday on growing concerns that there will not be a deal on new stimulus by election day. It looks like similar concerns dragging stocks down in Korea too. What's the story in the markets today?
The Bank of Korea has decided to keep its policy rate steady at zero.5 percent. This is a record low, and its the fourth month now that it's been there. What do you make of this decision professor, and how long will this go on?
The IMF is now predicting the Korean economy to shrink this year by 1.9 percent. This is actually an improvement from its previous forecast in June, which was two tenths of a percent lower. What stands out to you about this forecast?