S. Korean banks' lending rate rises in August on policy rate hikes

NAMPA / Xinhua
2026-09-30
SEOUL, Sept. 30 (Xinhua) -- South Korean banks' lending rate rose last month as consecutive policy rate hikes drove up borrowing costs for both households and businesses, central bank data showed Wednesday. The weighted average rate for new bank loans gained 0.13 percentage points from a month earlier to an annualized rate of 4.40 percent in August, rebounding from a decrease of 0.04 percentage points in July, according to the Bank of Korea (B......
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