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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 |
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Graph Bank of Korea interest rate - long-term graph |
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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
| 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 % |
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Summary of other central banks’ interest rates
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