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Bank of Korea · Base rate

South Korea · KRW · Policy rate

The Bank of Korea’s Base rate is 3.00 %, last changed on 27 Aug 2026 when it was raised by 25 bp from 2.75 %. The next scheduled decision is on .

3.00 %

Last change
raised +25 bp·
Previous rate
2.75 %
Next decision
Latest observation
Source
BIS

3.00 % ·

18 Sep 20210.00 – 3.50 %18 Sep 2026

Recent decisions

DateRateChange
3.00 %+25 bp
2.75 %+25 bp
2.50 %hold
2.50 %hold
2.50 %hold
2.50 %hold
2.50 %hold
2.50 %hold
2.50 %hold

Changes are dated by when they took effect; holds by the announcement day.

BoK website ↗

At a glance

Economy
South Korea
Currency
KRW
Type
Policy rate
Set by
Bank of Korea
History since
1999
Changes in the last 12 months
2

Questions and answers

What is the current Bank of Korea interest rate?
The Bank of Korea’s Base rate is 3.00 %, last changed on 27 Aug 2026 when it was raised by 25 bp from 2.75 %.
When did the Bank of Korea last change its rate?
On 27 Aug 2026, when the Base rate was raised by 25 bp to 3.00 % from 2.75 %.
What did the Bank of Korea decide at its last meeting?
On 27 Aug 2026 it raised the Base rate by 25 bp to 3.00 %.
When is the next Bank of Korea rate decision?
The next scheduled announcement is on 22 Oct 2026.

All changes since 2017

DateRateChange
3.00 %+25 bp
2.75 %+25 bp
2.50 %−25 bp
2.75 %−25 bp
3.00 %−25 bp
3.25 %−25 bp
3.50 %+25 bp
3.25 %+25 bp
3.00 %+50 bp
2.50 %+25 bp
2.25 %+50 bp
1.75 %+25 bp
1.50 %+25 bp
1.25 %+25 bp
1.00 %+25 bp
0.75 %+25 bp
0.50 %−25 bp
0.75 %−50 bp
1.25 %−25 bp
1.50 %−25 bp
1.75 %+25 bp
1.50 %+25 bp

Dates before 2021 are month precision (monthly BIS data).

Other rates in Asia

Source: BIS central bank policy rates. Latest observation 28 Aug 2026. Refreshed every 30 minutes.