Time now for an in-depth look at the market news.
And for that, I'm joined on the line by Dr. Kim Sei-wan, professor of economics at Ewha Womans University.
Professor Kim, good afternoon.
The Blue House has announced in detail its pan for the Korean New Deal. 160 trillion won to be spent over the next five years on these projects. Tell us about the New Deal and how concerned you are about this spending.
The Bank of Korea is keeping interest rates where they are for now. After its policy meeting today, it said the economy this year could shrink more than its most recent forecast. Tell us about that decision to freeze rates.
The Fed has put out a fairly gloomy outlook for the U.S. economy. Economic activity is up almost everywhere but nowhere near the levels seen before the pandemic. What do you make of this report and how might it affect monetary policy?
Overnight, stocks on Wall Street and in Europe strongly higher on hopes for a vaccine. What's the story in the global markets?
Yesterday we saw the KOSPI climb back above the 22-hundred mark, but this morning the index suddenly took a dive after the BOK said the growth this year is going to be lower than previously forecast. Tell us about the local market.