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Bank of Korea base rate, interest rate central bank South Korea

Charts - historic Bank of Korea interest rates

Graph Bank of Korea interest rate - interest rates last year

Graph Bank of Korea interest rate - long-term graph

The current Bank of Korea interest rate (base rate) is 3.500 %

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. For an overview of current inflation in South-Korea, click here.

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 or 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 therefor on inflation.

This page shows the current and historic values of the Bank of Korea base rate.

For a summary of the current interest rates of a large number of central banks please click here.

Tables - current and historic interest rates of the central bank of South Korea

Bank of Korea interest rate changes

 change date percentage
 january 13 2023 3.500 %
 november 24 2022 3.250 %
 october 12 2022 3.000 %
 august 25 2022 2.500 %
 july 14 2022 2.250 %
 may 25 2022 1.750 %
 april 14 2022 1.500 %
 january 14 2022 1.250 %
 november 25 2021 1.000 %
 august 26 2021 0.750 %

Summary of other central banks’ interest rates

 central bank interest rate region percentage date
 FED interest rate United States 5.250 % 05-03-2023
 RBA interest rate Australia 4.100 % 06-06-2023
 BACEN interest rate Brazil 13.750 % 08-04-2022
 BoE interest rate Great Britain 4.500 % 05-11-2023
 BOC interest rate Canada 4.500 % 01-25-2023
 PBC interest rate China 3.650 % 08-22-2022
 ECB interest rate Europe 3.750 % 05-04-2023
 BoJ interest rate Japan -0.100 % 02-01-2016
 CBR interest rate Russia 7.500 % 09-16-2022
 SARB interest rate South Africa 8.250 % 05-25-2023

In order to be able to show the data on this page, we make use of a large number of sources of information that we believe to be reliable. For more information and our disclaimer, click here.

American interest rate (Fed)5.25 %05-03-2023
Australian interest rate (RBA)4.10 %06-06-2023
British interest rate (BoE)4.50 %05-11-2023
Canadian interest rate (BOC)4.50 %01-25-2023
European interest rate (ECB)3.75 %05-04-2023
Japanese interest rate (BoJ)-0.10 %02-01-2016
All central banks interest rates, click here
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