S i9000. Korea home credit expands at slowest annual price in a minimum of 20 years

People wear masks to prevent the spread of the coronavirus disease (COVID-19) as they walk on zebra crossing in Seoul

SEOUL (Reuters) South Koreas household credit score grew on the slowest yearly pace within at least 20 years in the 3rd quarter, main bank information showed upon Tuesday, among a large rate walk cycle targeted at taming pumpiing.

The countrys household credit score reached a list 1, 870. 6 trillion won ($1. 38 trillion) by the end associated with September, upward 0. 1% from the previous quarter, based on the Bank associated with Korea.

The third-quarter home credit had been 1 . 4% higher than per year earlier, yet lower than the particular 3. 2% annual increase at the end of the 2nd quarter. It had been the smallest yearly gain because the data arranged began within the fourth one fourth of 2002.

South Koreas central financial institution has elevated interest rates with a total associated with 250 base points (bp) since Aug 2021 from the record reduced of zero. 50%. It really is expected to provide another 25-bp rate walk on Thursday night, bringing prices to the top level given that 2012.

($1=one, 358. 0700 won)

(Reporting by Jihoon Lee; Modifying by Jamie Freed)

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