SEOUL - South Korea's central bank kept its benchmark interest rate unchanged on Friday but is widely expected to ease at the next meeting to support the faltering economy.
The liquid three-year treasury bond futures September contract fell while the won extended gains against the US dollar after the decision, although changes were small as investors awaited the governor's news conference. A brewing trade conflict with Japan has added to troubles already facing South Korea's trade-reliant economy, such as cooling global demand amid the prolonged Sino-U.S. tariff war, shrinking corporate investment and weak consumer spending.
On Thursday, the government finalised the most aggressive budget spending plan since the 2008-2009 global financial crisis for next year as Asia's fourth-largest economy is buffeted by growing threats both at home and from abroad.
Source: Financial Digest (financialdigest.net)
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