Korean banks' lending rate down for 2nd month in July

SEOUL, 30th August, 2024 (WAM) -- Banks' loan rate in the Republic of Korea declined for a second consecutive month in July, as the central bank has frozen its key rate for more than a year amid still-high inflation, central bank data showed Friday.

Yonhap News Agency reported that the average lending rate of banks applied to new loans last month came to 4.55 percent, down from the previous month's 4.71 percent,