South Korea Interest Rate 1999-2018 | Data | Chart | Calendar | Forecast

The Bank of Korea held its base rate steady at 1.5 percent on February 27th, as expected. While saying the trend of steady increase in consumption will continue and consumer price inflation can be stabilised at the target over a medium-term horizon, policymakers mentioned that they will judge carefully whether it is necessary to adjust its accommodative monetary policy stance further. Interest Rate in South Korea averaged 3.27 percent from 1999 until 2018, reaching an all time high of 5.25 percent in October of 2000 and a record low of 1.25 percent in June of 2016.

South Korea Interest Rate
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South Korea Leaves Monetary Policy Unchanged


The Bank of Korea held its base rate steady at 1.5 percent on February 27th, as expected. While saying the trend of steady increase in consumption will continue and consumer price inflation can be stabilised at the target over a medium-term horizon, policymakers mentioned that they will judge carefully whether it is necessary to adjust its accommodative monetary policy stance further.

Excerpts from the statement by The Bank of Korea:

The Board judges that the solid trend of domestic economic growth has continued, as exports are sustaining their buoyancy and consumption and facilities investment have shown favorable movements, although construction investment has declined. The trend of improvement in employment conditions appears to have remained moderate, even though the extent of increase in the number of persons employed accelerated in January owing to temporary factors. Going forward the Board expects domestic economic growth to be generally consistent with the path projected in January. It anticipates that investment will slow, but that the trend of steady increase in consumption will continue, due in large part to improvements in household income conditions, and that exports will also sustain their favorable movements thanks to the buoyancy of the global economy.

Consumer price inflation has slowed to the 1percent level recently, in consequence mainly of declines in the prices of livestock products and of a reduction in the extent of increase in personal service fees. Core inflation (with food and energy product prices excluded from the CPI) has fallen to the low 1 percent range, and the rate of inflation expected by the general public has remained at the mid-2 percent level. Looking ahead it is forecast that consumer price inflation, after remaining in the low- to mid-1 percent range for some time, will pick up and gradually approach the target level from the second half of this year. Core inflation will also gradually rise.

In the domestic financial markets the volatility of price variables has expanded considerably, in reflection of global financial market movements. Long-term market interest rates have risen, stock prices have declined and the Korean won-US dollar exchange rate has fallen, after having previously increased. Household lending has shown a higher rate of expansion than in past years, although the amount of its expansion has continued to decline. Housing sales prices have shown low rates of increase overall, but have risen faster in some parts of Seoul and its surrounding areas.

Looking ahead, the Board will conduct monetary policy so as to ensure that the recovery of economic growth continues and consumer price inflation can be stabilized at the target level over a medium-term horizon, while paying attention to financial stability. As it is forecast that inflationary pressures on the demand side will not be high for the time being, while the domestic economy is expected to continue its solid growth, the Board will maintain its accommodative monetary policy stance. In this process it will judge carefully whether it is necessary to adjust its accommodative monetary policy stance further, while closely checking future economic growth and inflation trends. It will also carefully monitor any changes in the monetary policies of major countries, conditions related to trade with major countries, the trend of increase in household debt, and geopolitical risks.


Bank of Korea l Rida Husna |
2/27/2018 2:30:12 AM



Calendar GMT Actual Previous Consensus TEForecast
2017-11-30 01:00 AM Interest Rate Decision 1.50% 1.25% 1.5% 1.5%
2018-01-18 01:00 AM Interest Rate Decision 1.5% 1.5% 1.5% 1.5%
2018-02-27 01:00 AM Interest Rate Decision 1.5% 1.5% 1.5% 1.5%
2018-04-12 01:00 AM Interest Rate Decision 1.5% 1.5%
2018-05-24 01:00 AM Interest Rate Decision 1.5%
2018-07-12 01:00 AM Interest Rate Decision 1.5%


South Korea Money Last Previous Highest Lowest Unit
Interest Rate 1.50 1.50 5.25 1.25 percent [+]
Interbank Rate 1.65 1.65 6.14 1.27 percent [+]
Money Supply M0 96556000.00 96842800.00 97426600.00 11200.00 KRW Million [+]
Money Supply M1 834968.00 825863.80 834968.00 260.40 KRW Billion [+]
Money Supply M2 2568266.10 2518809.40 2568266.10 590.60 KRW Billion [+]
Money Supply M3 3578735.70 3539244.80 3578735.70 57007.90 KRW Billion [+]
Foreign Exchange Reserves 394800.00 395750.00 395750.00 564.50 USD Million [+]
Loans to Private Sector 7919060.00 7886117.00 7919060.00 2603700.00 KRW Hundred Million [+]
Deposit Interest Rate 1.56 1.80 19.50 1.56 percent [+]
Private Debt To Gdp 253.50 254.10 254.10 237.30 percent [+]
Central Bank Balance Sheet 470727.30 470584.70 510090.10 310.30 KRW Billion [+]
Foreign Stock Investment 7749.54 7153.23 7749.54 349.48 USD Hundreds of Millions [+]


South Korea Interest Rate

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. This page provides - South Korea Interest Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. South Korea Interest Rate - actual data, historical chart and calendar of releases - was last updated on March of 2018.

Actual Previous Highest Lowest Dates Unit Frequency
1.50 1.50 5.25 1.25 1999 - 2018 percent Daily




interest rate by Country
Country Last
Turkey 8.00 Mar/18
Mexico 7.50 Feb/18
Russia 7.25 Mar/18
Brazil 6.50 Mar/18
India 6.00 Feb/18
China 4.35 Feb/18
Indonesia 4.25 Mar/18
United States 1.75 Mar/18
Australia 1.50 Mar/18
South Korea 1.50 Feb/18
Canada 1.25 Mar/18
United Kingdom 0.50 Mar/18
Euro Area 0.00 Mar/18
France 0.00 Mar/18
Germany 0.00 Mar/18
Italy 0.00 Mar/18
Netherlands 0.00 Mar/18
Spain 0.00 Mar/18
Japan -0.10 Mar/18
Switzerland -0.75 Mar/18


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