Nomura Holdings has forecast that South Korea’s benchmark interest rate will fall below one percent within this year.
 
Kwon Young-sun, a senior economist at the Japanese financial holding company, said in a news conference in Seoul on Friday that the firm inevitably adjusted the economic growth outlooks of Asian countries in the wake of Britain’s exit from the European Union.
 
He said the company lowered South Korea’s gross domestic growth outlook for this year from two-and-a-half percent to two-point-two percent.
 
Based on the projection, Kwon forecast that the Bank of Korea will slash the key rate two times to three-quarters of a percent.
 
Meanwhile, Chung Chang-won, an analyst at Nomura Holdings, who was also present at the news conference, picked Samsung Electronics shares as the most promising shares in Asia for this year.