Elections in Korea, further easing in Pakistan

With all the votes from Korea’s parliamentary election now counted, it has been confirmed that President Moon’s Democratic Party (DP) and its affiliate party won 180 of the 300 seats in the National Assembly Seats. That gives the DP the three-fifths “supermajority” needed to pass bills unilaterally. The government’s priority over the coming months will be providing support to the economy which is being hit hard by the current crisis. Meanwhile, Pakistan’s central bank cut interest rates by a further 200bp earlier this week. With activity collapsing and inflationary pressures falling, further cuts are likely.