South Korean infighting hobbles recovery plan, says mak_robyn:
South Korea's gross domestic product contracted by 0.4% in the three months to March from the previous quarter, according to the Bank of Korea's revised data released on June 4. That's more than the 0.3% decline estimated in April.
South Korea's core consumer price index, which excludes volatile food and energy prices, rose 0.6% in May from a year earlier - the weakest rise since December 1999, official data show. The country's central bank on May 31 voted 6-1 to keep the benchmark interest rate at 1.75%. Board member Cho Dong-chul was the sole dissenter, voting for a 25 basis point cut.
The Bank of Korea's will next review policy on July 18, when the central bank is also due to release a revised economic growth forecast for this year. In April, the BOK cut its 2019 economic growth forecast to 2.5% from 2.6%.
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