SEOUL, Sept. 30 (Xinhua) -- South Korean banks' lending rate was unchanged last month amid lingering expectations for lower policy rate, central bank data showed Tuesday.
The weighted average rate for new bank loans made no change at 4.06 percent in August, compared to the previous month, after sliding for the past eight months, according to the Bank of Korea (BOK).
The BOK cut its benchmark interest rate by 25 basis points in February and May each to 2.50 percent after lowering it by the same basis points in October and November last year.
Expectations remained high for the BOK's additional interest rate cuts later this year.
Rate for fresh bank loans to households declined 0.03 percentage points over the month to 4.17 percent in August.
Mortgage loan rate for households was unchanged at 3.96 percent, but credit loan rate rose 0.07 percentage points to 5.41 percent.
Rate for banks' new corporate loans slipped 0.01 percentage point from a month earlier to 4.03 percent in August.
The lending rate for big companies fell 0.01 percentage point to 3.98 percent, while the rate for small firms shrank 0.01 percentage point to 4.07 percent.
The weighted average rate for new bank deposits was down 0.02 percentage points over the month to an annualized 2.49 percent in August. ■
