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 + BoK
3.00 % ·
2 Nov 20210.00 – 3.50 %2 Nov 2026
Recent decisions
| Date | Rate | Change |
|---|---|---|
| 3.00 % | hold | |
| 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 |
Changes are dated by when they took effect; holds by the announcement day.
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 22 Oct 2026 it held the Base rate at 3.00 %.
- When is the next Bank of Korea rate decision?
- The next scheduled announcement is on 26 Nov 2026.
Decisions by year since 2017
2026net +50 bp
| Date | Rate | Change |
|---|---|---|
| 3.00 % | hold | |
| 3.00 % | +25 bp | |
| 2.75 % | +25 bp | |
| 2.50 % | hold | |
| 2.50 % | hold | |
| 2.50 % | hold | |
| 2.50 % | hold |
2025net −50 bp
| Date | Rate | Change |
|---|---|---|
| 2.50 % | hold | |
| 2.50 % | hold | |
| 2.50 % | hold | |
| 2.50 % | hold | |
| 2.50 % | −25 bp | |
| 2.75 % | hold | |
| 2.75 % | −25 bp | |
| 3.00 % | hold |
2024net −50 bp
| Date | Rate | Change |
|---|---|---|
| 3.00 % | −25 bp | |
| 3.25 % | −25 bp |
2023net +25 bp
| Date | Rate | Change |
|---|---|---|
| 3.50 % | +25 bp |
2022net +225 bp
| Date | Rate | Change |
|---|---|---|
| 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 |
2021net +50 bp
| Date | Rate | Change |
|---|---|---|
| 1.00 % | +25 bp | |
| 0.75 % | −25 bp | |
| 1.00 % | +25 bp | |
| 0.75 % | +25 bp |
2020net −75 bp
| Date | Rate | Change |
|---|---|---|
| 0.50 % | −25 bp | |
| 0.75 % | −50 bp |
2019net −50 bp
| Date | Rate | Change |
|---|---|---|
| 1.25 % | −25 bp | |
| 1.50 % | −25 bp |
2018net +25 bp
| Date | Rate | Change |
|---|---|---|
| 1.75 % | +25 bp |
2017net +25 bp
| Date | Rate | Change |
|---|---|---|
| 1.50 % | +25 bp |
Dates before 2021 are month precision (monthly BIS data).
Other rates in Asia
Source: BIS central bank policy rates, Bank of Korea. Latest observation 31 Oct 2026. Refreshed every 30 minutes.