FXEMPIRE
All
Ad
Advertisement
Advertisement

South Korea Interest Rate

Last Release
Aug 2021
Actual
0.75 %
Forecast
N/A
Previous
0.5 %
Frequency
Daily
Units In
%
Next Release
Oct 12, 2021
Time to Release
19 Days 18 Hours
Highest
Lowest
Average
Date Range
Source
5.25 %
Sep 2008
0.5 %
May 2020
2.93 %1999 - 2021The Bank of Korea
In South Korea the interest rates decisions are taken by the Bank of Korea’s (BOK) Monetary Policy Committee. The official interest rate is the Bank of Korea Base Rate which was changed from overnight call rate on March 2008.

Latest Updates

The Bank of Korea raised its base rate by 25 basis points to 0.75% during its August 2021 meeting, as widely expected, the first-rate hike in near three years and the first major Asian economy to tighten its monetary policy since the pandemic began. Policymakers said the economy is likely to continue its recovery as private consumption is forecast to improve gradually on the expansion of vaccinations and supplementary budget, while exports and investment are expected to sustain their buoyancy. 2021 GDP growth is projected to be around 4%, consistent with the forecast in May. Meantime, 2021 consumer price inflation will increase to the lower-2%, exceeding the May forecast of 1.8%. Core inflation is forecast to run at the lower-1% level. The board said it will gradually adjust the degree of policy accommodation as the economy is expected to continue its sound growth, despite uncertainties over the virus. The central bank has two rate decisions left for this year.

South Korea Interest Rate History

Last 12 readings

Latest Releases and Calendar Events

DATETIMETITLE
Aug 26, 202101:06South Korea Raises Base Rate by 25 Bps to 0.75%
Jul 15, 202100:51South Korea Holds Rates, Signals Tightenings
Jan 17, 202004:55South Korea Holds Key Rate Unchanged at 1.25%
Nov 29, 201905:59South Korea Holds Base Rate at 1.25%
Oct 16, 201909:52South Korea Cuts Key Rate by 25 Bps to 1.25%
Aug 30, 201909:58Bank of Korea Leaves Monetary Policy Unchanged
Jul 18, 201905:19South Korea Unexpectedly Cuts Key Rate by 25 Bps to 1.5%

South Korea money Indicators

All South Korea indicators
Indicator
Last
Previous
Min
Max
Unit
Frequency
Range
Central Bank Balance Sheet
562,560.5
Jul 2021
565,138.1
Jun 2021
310.3
Jan 1970
566,929.8
Jun 2020
KRW BillionMonthly1970 - 2021
Deposit Interest Rate
1.69
Dec 2019
1.72
Nov 2019
1.37
Aug 2016
19.5
Dec 1980
%Monthly1980 - 2019
Foreign Exchange Reserves
463,930
Aug 2021
458,680
Jul 2021
564.5
Apr 1972
463,930
Aug 2021
USD MillionMonthly1971 - 2021
Foreign Stock Investment
1,055,887.8
Jun 2021
999,689
Mar 2021
349.48
Dec 1994
1,055,887.8
Jun 2021
USD MillionQuarterly1994 - 2021
Interbank Rate
0.95
Sep 2021
0.95
Sep 2021
0.57
Aug 2020
6.14
Oct 2008
%Daily2004 - 2021
Interest Rate
0.75
Aug 2021
0.5
Jul 2021
0.5
May 2020
5.25
Sep 2008
%Daily1999 - 2021

Interest Rate across Asia

Interest Rate global view
Country
Last
Previous
Min
Max
Unit
Frequency
Range
Azerbaijan
6.5
Sep 2021
6.25
Aug 2021
2
Oct 2010
15
Jan 2018
%Daily2005 - 2021
Bangladesh
4.75
Aug 2021
4.75
Jul 2021
4.5
Jul 2010
8.75
Oct 2008
%Daily2008 - 2021
Bhutan
6.86
Jul 2021
6.86
Jun 2021
6
Apr 2018
7.04
Mar 2019
%Daily2012 - 2021
Brunei
5.5
Jul 2021
5.5
Jun 2021
5.5
Aug 2018
5.5
Aug 2018
%Daily2003 - 2021
Cambodia
0.6
May 2021
0.71
Mar 2021
0.6
May 2021
10.7
Aug 1994
%Daily1994 - 2021
China
3.85
Sep 2021
3.85
Sep 2021
3.85
Apr 2020
10.98
Aug 1996
%Daily1996 - 2021

Trade With A Regulated Broker