S. Korean banks' lending rate falls for 3rd month in February

SEOUL, March 29 (Xinhua) -- South Korean banks' lending rate fell for the third consecutive month in February on expectations for policy rate cuts later this year, central bank data showed Friday.

The weighted average rate for new bank loans dipped 0.19 percentage points from a month earlier to an annualized 4.85 percent in February, continuing to slide since December last year, according to the Bank of Korea.