Nomura Securities has predicted that the Bank of Korea(BOK) will cut the nation's key interest rate by another quarter percentage point in October this year.
 
Kwon Young-sun, a senior economist at Nomura, delivered the prediction on Thursday, following the central bank’s decision to lower the benchmark interest rate by a quarter percentage point to a record low of one-point-25 percent.
 
He said that the BOK will make an additional rate cut to help spur the economy, as the current economic slump is predicted to further worsen in the second half of the year with sluggish exports and corporate restructuring undermining growth.