SEOUL, Dec. 29 (Xinhua) -- South Korean banks' lending rate rebounded in three months due to lower expectations for additional policy rate cuts, central bank data showed Monday.
The weighted average rate for new bank loans gained 0.13 percentage points from a month earlier to an annualized rate of 4.15 percent in November after sliding for the past two 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 weakened for the BOK's additional interest rate cuts on the back of the local currency's depreciation against the U.S. dollar and the massive household debts.
The rate for banks' new corporate loans advanced 0.14 percentage points over the month to 4.10 percent in November.
The lending rate for large companies increased 0.11 percentage points to 4.06 percent, while the rate for small and medium firms rose 0.18 percentage points to 4.14 percent.
The rate for fresh bank loans to households rose 0.08 percentage points to 4.32 percent in November compared to the previous month.
Mortgage loan rate for households grew 0.19 percentage points to 4.17 percent, while credit loan rate soared 0.27 percentage points to 5.46 percent.
The weighted average rate for new bank deposits was up 0.24 percentage points over the month to an annualized 2.81 percent in November. ■
