Korean Base Rate - South Korea South Korean Central Bank interest rate
This page shows the current and historic values of the Base Rate as set by the South Korean Central Bank (Bank of Korea). The Base Rate is often regarded as the most important interest rate of the Bank of Korea.
|
Date
|
Rate
|
|---|---|
|
01-13-2023
|
3.50 %
|
|
11-24-2022
|
3.25 %
|
|
10-12-2022
|
3.00 %
|
|
08-25-2022
|
2.50 %
|
|
07-14-2022
|
2.25 %
|
|
05-25-2022
|
1.75 %
|
|
04-14-2022
|
1.50 %
|
|
01-14-2022
|
1.25 %
|
|
11-25-2021
|
1.00 %
|
|
08-26-2021
|
0.75 %
|
Chart Bank of Korea base rate
Historical interest ratesOur content is based on reliable sources. However, we do not accept liability for any errors. The content of this website is for informational purposes only and is not intended as financial advice. Decisions you make based on the information we display are always at your own expense and risk.
Bank of Korea
The central bank of South Korea is the Bank of Korea. Price stability is the main objective of the monetary policy of the central bank of South Korea. Inflation targeting is the monetary policy which aims to achieve an explicit target for the level of inflation.
View the current and historical Korean inflation rates
Bank of Korea Base Rate
When reference is made to the South Korean interest rate this often refers to the Bank of Korea Base Rate. Before, the Korean interest rate was called the Overnight Call Rate, but since March 2008 the term Bank of Korea Base Rate is being used.
By changing the Bank of Korea Base Rate the central bank of Korea is influencing the interest rate of products like mortgages, credit and savings accounts. Doing so the consumption and investment levels are being influenced which has an effect on price levels and therefore on inflation. Changes in the Base Rate also often lead to changes in the exchange rate of the South Korean currency, the South Korean Won.