South Korean stimulus plan announced:
- To create 40,000 jobs
- Help housing market
- Help for exporters
- The plan is bigger than was expected
- Expectation is it boosts the growth rate by about 0.3%
- Interest rates were left unchaged at 3.25% by the Bank of Korea last week
The South Korean eonomy has been lagging, much of which has been attributed (rightly or wrongly) to the rapid yen deprecations (I think its more to do with a renewed bout of global slowdown – less exports to the basket case that is Europe etc.).
