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S. Korea lowers COVID-19 warning level, lifts last-remaining antivirus mandates
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The average interest rate charged on new bank loans came to 2.72 percent in May, down 0.02 percentage point from the previous month, according to preliminary data from the Bank of Korea (BOK).
The BOK cut the key interest rate to a record low of 0.5 percent in May last year after delivering an emergency rate cut of half a percentage point in March to cushion the impact of the new coronavirus outbreak.
Last month, the central bank kept the base rate steady while upgrading this year's growth outlook to 4 percent.
The average rate for bank deposits, meanwhile, came to 0.83 percent in May, down 0.01 percentage point from a month earlier, the BOK said.
South Korean lenders' loan-deposit spread, a gauge of banks' profitability from lending, stood at 2.12 percent in May. (Yonhap)
