South Korean banks’ lending rate rebounded in three months amid the prolongation of restrictive monetary policy stance, central bank data showed Friday.
The weighted average rate for new bank loans gained 0.07 percentage points from a month earlier to an annualized 5.17 percent in September, after sliding 0.07 percentage points for the past two months, according to the Bank of Korea (BOK).
The BOK had left its policy rate unchanged at 3.50 percent since January, after increasing it by 3.0 percentage points for the past one and a half years. Rate for banks’ new corporate loans advanced 0.06 percentage points over the month to 5.27 percent in September.—Xinhua
