Yes there is:
Go to the country preferences. There is a part for keyboard and autocorrect. You can just create new profiles for different languages or turn it on or off. It will the appear next to the blank at the keyboard.
So the trick is having more then one keyboard layout in the regional settings, normal english ( which has auto correct ), and add a new one with "none" in the language , this gives you a switch - english and none which turns off auto correct. Pretty tricky solution to switching auto c on / off. If you are a German add another keyboard, German. Then you get three options.
shame the same toggle to different keyboard button cant be used to toggle to a keyboard type that has arrow keys/normalish keyboard setup to suit some apps that need a "more like a normal PC keyboard" setup.