Loan interest rates in Korea remain above 4 percent, despite the Bank of Korea's easing signals.
The Bank of Korea warns of potential negative economic growth and signals a possible interest rate cut in May due to heightened uncertainty and trade tensions affecting forecasts.
Shinhan Bank and Standard Chartered's local unit, SC First Bank, will lower their interest rates for mortgage loans as lender sentiment toward loans softens.
The Bank of Korea initiated a new easing cycle with a 25 basis point rate cut.
Korea’s central bank slashed the benchmark interest rate by a 25 basis point to 3.25 percent on Friday, delivering its first rate cut since May, 2020.
If the rates fall, it would be great to buy a house, but nothing more than that.
With housing prices in Seoul rising ever-upward, Bank of Korea Gov. Rhee Chang-yong urged against overly optimistic rate-cut speculation.
Korea's central bank froze its key rate for the 12th straight session on Thursday, holding the benchmark interest steady in its longest unchanged streak.
Bank of Korea Governor Rhee Chang-yong said financial stability must be considered when determining the country's neutral interest rate.
The Bank of Korea (BOK) upped its growth forecast for the country's economy by 0.4 percentage points to 2.5 percent on the back of strong exports. Inflation is expected to come at 2.6 percent this year, unchanged from the previous projection.
Korea JoongAng Daily Sitemap
