Interest Rates on Household Loans Rise to 8-Year High

  • Arirang News

    June 01, 2022 08:29

    The average interest rate on household loans in Korea topped four percent last month, the highest rate in over eight years.
    According to Bank of Korea, the rate was 4.05 percent, up 0.07 percentage point from the previous month, the highest since March 2014.
    The BOK hiked the key rate by 0.25 percentage point both last month and this month to reach 0.75 percent.
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