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South Korea Interest Rate
Last Release
Aug 28, 2025
Actual
2.5
Units In
%
Previous
2.5
Frequency
Daily
Next Release
Oct 23, 2025
Time to Release
1 Months 23 Days 3 Hours
Highest | Lowest | Average | Date Range | Source |
5.25 Oct 2000 | 0.5 May 2020 | 2.9 % | 1999-2025 | The 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 (BOK) held its base rate at 2.50% in August 2025, marking a second pause after May’s cut, as expected. Officials highlighted the need to monitor Seoul’s housing market and rising household debt. Despite stricter housing regulations, property price expectations rebounded in early August before moderating in subsequent weeks. At the same time, household lending accelerated sharply, with loan balances at major banks rising faster than in July. Meanwhile, the central bank slightly upgraded its outlook after the US cut planned tariffs on Korean goods to 15% from 25% in exchange for investment pledges from Seoul, while the government boosts fiscal stimulus. GDP is projected to grow 0.9% in 2025, up from 0.8%, with the 2026 forecast steady at 1.6%. Inflation is seen at 2.0% this year and 1.9% in 2026, both marginally higher. Still, officials warned growth remains below potential and further support may be needed.
South Korea Interest Rate History
Last 12 readings