South Korean banks’ lending rate fell for the fourth consecutive month in March due to expectations for slower policy rate hikes, central bank data showed Friday.
The weighted average rate for new bank loans stood at an annualized 5.17 percent in March, down 0.15 percentage points from the previous month, according to the Bank of Korea (BOK).
The BOK once again left its benchmark interest rate unchanged at 3.50 percent earlier this month, after delivering seven back-to-back rate hikes for one and a half years through January this year.
Rate for fresh bank loans to households declined 0.26 percentage points over the month to 4.96 percent in March.— Xinhua
