SEOUL, Nov. 27 (Xinhua) -- South Korea's lending rate stayed low in October amid the record-low policy rate, central bank data showed Friday.
The weighted average lending rate for loans, extended by deposit-taking banks, stood at an annualized rate of 2.66 percent in October, unchanged from the previous month, according to the Bank of Korea (BOK).
The lending rate hovered near a record-low level as the BOK lowered its benchmark interest rate by 25 basis points to an all-time low of 0.50 percent in May. The central bank slashed the key rate by 50 basis points in March.
Lending rate for loans to small companies declined from 2.86 percent in September to 2.81 percent in October, but the rate for loans to big corporations climbed from 2.43 percent to 2.49 percent in the same period.
Rate for loans to households gained to an annualized rate of 2.64 percent in October from 2.59 percent in the prior month.
Meanwhile, the weighted average deposit rate was unchanged at 0.88 percent in October compared to the previous month. Enditem
