S.Korea's bank loan rate to households rises on expected policy rate hike

Source: Xinhua| 2018-11-28 13:24:20|Editor: Yamei
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SEOUL, Nov. 28 (Xinhua) -- Rate for bank loan to households in South Korea rose last month on the expected policy rate hike, central bank data showed Wednesday.

The annualized rate for fresh bank loan to households averaged 3.64 percent in October, up 0.02 percentage points from the previous month, according to the Bank of Korea (BOK).

It ended the third consecutive month of decline through September amid the rising expectations for the BOK's rate increase in November.

The BOK was slated to hold its rate-setting meeting Friday. According to a Korea Financial Investment Association survey of 200 fixed-income experts, 79 percent predicted a rate hike this month.

Rate for mortgage loan gained 0.02 percentage points over the month to 3.31 percent in October, with the rate for credit loan picking up 0.06 percentage points to 4.45 percent.

Rate for bank loan to companies added 0.03 percentage points to 3.65 percent in the cited period. The rate for big corporations jumped 0.21 percentage points to 3.42 percent, but the figure for loan to small companies shed 0.04 percentage points to 3.84 percent due to the government's support policy.

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