South Korean banks' lending rates remained unchanged at 4.85% in March, with expectations for potential policy rate cuts later this year.
South Korean banks' lending rates remained unchanged in March, with the weighted average rate for new bank loans at an annualized 4.85%, as central bank data showed. Expectations persisted for policy rate cuts later this year, possibly following the anticipated rate cuts in the U.S. The Bank of Korea has kept its benchmark interest rate unchanged at 3.50% since January last year.
April 29, 2024
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