SEOUL, Oct. 31 (Xinhua) -- South Korean banks' lending rate fell in September amid lingering expectations for a lower policy rate, central bank data showed Friday.
The weighted average rate for new bank loans slipped 0.03 percentage points from a month earlier to an annualized rate of 4.03 percent in September after making no change in August, 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 or early next year.
The rate for fresh bank loans to households was unchanged at 4.17 percent in September compared to the prior month.
Mortgage loan rate for households stood unchanged at 3.96 percent, but credit loan rate fell 0.10 percentage points to 5.31 percent.
The rate for banks' new corporate loans dipped 0.04 percentage points over the month to 3.99 percent in September.
The lending rate for large companies retreated 0.08 percentage points to 3.91 percent, while the rate for small and medium firms shrank 0.01 percentage point to 4.05 percent.
The weighted average rate for new bank deposits was up 0.03 percentage points over the month to an annualized 2.52 percent in September. ■
