South Korea interest rates for new deposits, loans rose in October: BOK

The interest rate for outstanding amounts of deposits and loans also rose.

The average interest rate of new deposits in South Korea rose to 3.95% in October, up 14 basis points (bp) compared to the previous month, according to data from the Bank of Korea (BOK).

The average rate of interest rate on new loans, meanwhile, rose 7 bp to 5.24% over the same period.

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For outstanding amounts of deposits, the average interest rate rose 4 bp to 2.72% by end-October.

Meanwhile, the average interest rate on outstanding amounts of loans as of end-October was 5.19%, up 2 bp from September.