Outstanding Household Loans Fall for 2nd Month

  • Arirang News

    February 11, 2022 08:26

    Outstanding loans to households fell in January for a second month as interest rates rose and lending rules were tightened.

    According to the Bank of Korea on Thursday, loans that went unrepaid at the end of January totaled around W1,060.2 trillion, a decline of more than W400 billion from December (US$1=W1,196).

    This is the first time outstanding loans have shrunk for two months straight since the BOK started compiling the figures in 2004.

    The BOK has raised interest rates three times since last year, most recently in January.

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