Base Rate ↓1%p in 7 months…Household Interest Burden Expected to Decrease by 12.4 Trillion Won per Year

The rate of decline in loan interest rates is slowing down… Authorities are asking the financial sector to manage household debt. The Bank of Korea says, “If the base rate falls, short-term interest rates will fall… The interest burden will gradually decrease.” Reporters Shin Ho-kyung, Han Ji-hoon, and Min Seon-hee = The Monetary Policy Committee of the Bank of Korea (MPC) decided to lower the base rate on the 29th.