In anticipation of a base interest rate cut in the second half of the year, the balance of fixed-term deposits with maturities of six months or more has reached an all-time high.
According to the Bank of Korea's economic statistics system on the 25th, the balance of fixed-term deposits with maturities of six months or more in deposit banks as of the end of May was a total of 852.2138 trillion won, the highest since January 2002 when related statistics began.
Of this, the balance of fixed-term deposits with maturities of one year or more but less than two years was 592.0437 trillion won. This was followed by 196.777 trillion won for maturities of six months or more but less than one year, 32.6108 trillion won for maturities of two years or more but less than three years, and 30.7823 trillion won for maturities of three years or more.
The balances of fixed-term deposits by maturity period all hit record highs.
On the other hand, the balance of fixed-term deposits with maturities of less than six months was 186.044 trillion won as of the end of May, which increased from the end of the previous month (178.2652 trillion won) but decreased from the beginning of the year.
The balance of fixed-term deposits with maturities of less than six months recorded a maximum of 252.699 trillion won in December 2022 and has been declining since then.
The industry believes that deposit rates are expected to gradually decline in the future, prompting people to quickly sign up for longer-term deposits.
In the market, it is widely expected that the Bank of Korea will cut the base interest rate around October.
At a press conference on the 11th, Bank of Korea Governor Rhee Chang-yong hinted at the possibility of a rate cut, saying, "Now it is time to change lanes and prepare to change direction at the appropriate time."
출처 : 산경투데이(https://www.sankyungtoday.com)
Interest Rates to Drop in Second Half... Record High for Fixed-Term Deposits Over 6 Months
In anticipation of a base interest rate cut in the second half of the year, the balance of fixed-term deposits with maturities of six months or more has reache
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