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Bank of Korea

KRW ยท Official Website

Latest Statement

โš–๏ธ Neutral
Interest Rates (August 2026)
2026-09-30

In August 2026, the Bank of Korea reported that deposit interest rates remained stable at 3.21% for new deposits while loan interest rates increased to 4.40%, up 13 basis points from the previous month. Outstanding loan rates also rose by 3 basis points to 4.40%, indicating a gradual tightening in lending conditions.

Bank Profile

Mandate
Price stability (2% CPI), financial stability
Decision Types
Base Rate, Open market operations, Lending facilities
Policy Instruments
Base Rate, Aggregate Credit Ceiling Loans, Open market operations, Reserve requirements
Target Indicators
CPI inflation (2%), Core inflation, Output gap, Financial stability indicators
Communication Style
Detailed monetary policy statements, board member dissent visible, press conferences
Committee
Monetary Policy Board - 7 members (Governor, Senior Deputy Governor, 5 members)

Economic Indicators

Policy Rate2.75%
USD/KRW1516.65
GDP Growth3.2%
M2 Growth5.8%
10Y Yield4.29%
2y10y Spread+1.64%
HISTORICAL TRENDS
Policy Rate
3.502.50
FX Rate
2k1k
CPI
5.090.38
GDP
4.61-0.70
10Y Yield
4.292.66
2Y-10Y Spread
Stance
1000.00

Key Commodities

Top traded commodities for South Korea

Commodity Price 1D 30D
Brent Crude Oil 125.44 USD/barrel -0.1% +35.3%
Copper 13,542.82 USD/mt -0.1% +62.2%

Recent Statements

BOK Working Paper No.2026-15, Co-movement of Long-Term Interest Rates between Korea and the United States โš–๏ธ Neutral
2026-09-20
Minutes of the Monetary Policy Board Meeting(August 2026) | Minutes(์ƒ์„ธ) | News | News & Publications | Bank of Korea ๐Ÿ•Š๏ธ Dovish
2026-09-15
๐Ÿ—ฃ Dissent
โ†‘0 โ†“1
๐Ÿ“ Classified Sentences
๐Ÿ—ฃ Dissent Dovishmp_interest_rate
"Meanwhile, Kunil Hwang argued that the Base Rate should be kept unchanged at its current level of 2.75%"
Monetary Policy Decision & Opening Remarks to the Press Conference (August 27, 2026) โš–๏ธ Neutral
2026-08-27
Interest Rates (July 2026) โš–๏ธ Neutral
2026-08-26
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