South Korean exit polls show Park Geun-hye likely to win over Moon Jae-in
But whoever wins, one thing is certain about fiscal policies.
According to Nomura, presidential election exit polls in South Korea show that Ms Park Geun-hye of the ruling conservative party is likely to win over Mr Moon Jae-in of the opposition liberal party – but the difference between their estimated votes falls within the range of statistical error.
Whoever wins, Nomura believes the new government's fiscal policies will look to mitigate income inequality.
Here’s more from Nomura:
We see a chance of a supplementary budget, which provides upside risks to our below-consensus 2.5% GDP growth forecast for 2013. We do not expect much change to monetary, FX, or financial policies from the current stance, focusing on the current account surplus. We do not see any meaningful impact on the FX or rates markets in the near term.
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