SEOUL, July 31 (Xinhua) -- South Korean banks' lending rate turned downward in June on expectations for policy rate cuts later this year, central bank data showed Wednesday.
The weighted average rate for new bank loans was an annualized 4.71 percent in June, down 0.07 percentage points compared to the previous month, according to the Bank of Korea (BOK).
It shifted downward after rising 0.01 percentage po
