SEOUL, Feb. 28 (Xinhua) -- South Korean banks' lending rate kept falling in January on expectations for policy rate cut, central bank data showed Friday.
The weighted average rate for new bank loans dipped 0.11 percentage points from a month earlier to an annualized 4.53 percent in January, after slipping 0.12 percentage points in the previous month, according to the Bank of Korea (BOK).
The consecutive slide came on growing expectations for a reduction in policy rate, which was cut by 25 basis points to 2.75 percent earlier this month.
Rate for new bank loans to households was down 0.07 percentage points to 4.65 percent in January compared with the previous month.
Mortgage loan rate for households added 0.02 percentage points to 4.27 percent, but credit loan rate tumbled 0.57 percentage points to 5.58 percent.
Rate for banks' new corporate loans declined 0.12 percentage points over the month to 4.50 percent in January.
The lending rate for big companies diminished 0.12 percentage points to 4.48 percent, while the rate for small firms retreated 0.12 percentage points to 4.53 percent.
The weighted average rate for new bank deposits was down 0.14 percentage points over the month to an annualized 3.07 percent in January. ■
