South Korea Interest Rate  1999-2016 | Data | Chart | Calendar | Forecast

South Korean Monetary Policy Committee unexpectedly decided to cut the base rate by 25 basis points to a fresh record low of 1.25 percent during the meeting held on June 9th. It was the first rate adjustment since June 2015. Interest Rate in South Korea averaged 3.46 percent from 1999 until 2016, 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. Interest Rate in South Korea is reported by the The Bank of Korea.

South Korea Interest Rate
Receive the next reported value for South Korea Interest Rate in you Inbox



We will not not share your email with third parties and you can unsubscribe at any time.
Please Paste this Code in your Website

Actual Previous Highest Lowest Dates Unit Frequency
1.25 1.50 5.25 1.25 1999 - 2016 percent Daily
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 June of 2016.


Calendar GMT Reference Actual Previous Consensus Forecast (i)
2016-04-19 01:00 AM Interest Rate Decision 1.5% 1.5% 1.5% 1.5%
2016-05-13 01:00 AM Interest Rate Decision 1.5% 1.5% 1.5% 1.5%
2016-06-09 01:00 AM Interest Rate Decision 1.25% 1.5% 1.5% 1.5%
2016-07-14 01:00 AM Interest Rate Decision 1.25% 1.25%
2016-08-11 01:00 AM Interest Rate Decision 1.25%
2016-09-09 01:00 AM Interest Rate Decision 1.0%

Bank of Korea Cuts Base Rate to Fresh Record Low of 1.25%


South Korean Monetary Policy Committee unexpectedly decided to cut the base rate by 25 basis points to a fresh record low of 1.25 percent during the meeting held on June 9th. It was the first rate adjustment since June 2015 as policymakers judged domestic demand activities have weakened amid persistent decline of exports.

Excerpts from the statement by the Bank of Korea: 

Looking at the Korean economy, exports have continued their trend of decline and the improvements in domestic demand activities such as consumption have weakened, while the sentiments of economic agents have also been sluggish. On the employment front, although the pace of increase in the number of persons employed slowed somewhat in April, the employment-to-population ratio and the unemployment rate maintained the same levels as in April of last year. The Board forecasts that the domestic economy will sustain its trend of modest growth going forward, but in view of economic conditions domestically and abroad judges that the downside risks to the growth path forecast made in April have expanded.

Consumer price inflation fell from 1.0% the month before to 0.8% in May, owing chiefly to a slowdown in the extent of increase in agricultural product prices. Core inflation excluding agricultural and petroleum product prices also declined to 1.6%, from 1.8% in April. Looking ahead the Board forecasts that consumer price inflation will continue at a low level, under the influence of the low oil prices for example. In the housing market, sales and leasehold deposit prices showed low rates of increase.

In the domestic financial markets since May, stock prices have risen after having previously fallen, in reflection mainly of global stock market movements, and long-term market interest rates have declined, influenced mostly by the sluggishness of some economic indicators. The Korean won has fluctuated to a large extent against the US dollar, affected mainly by changes in the expectations for a policy rate hike by the US Federal Reserve. The won has meanwhile depreciated against the Japanese yen. Household lending has sustained a trend of substantial increase at a level exceeding that of recent years, led by mortgage loans.

Looking ahead, the Board will conduct monetary policy so as to ensure that the recovery of economic growth continues and consumer price inflation approaches the target level over a medium-term horizon, while paying greater attention to financial stability. In this process it will closely monitor the possibility of a British exit from the European Union, any changes in the monetary policies of major countries and capital flow movements, the progress of corporate restructuring, and the trend of increase in household debt.

Bank of Korea l Rida Husna | rida@tradingeconomics.com
6/9/2016 3:52:53 AM

South Korea Money Last Previous Highest Lowest Unit
Interest Rate 1.25 1.50 5.25 1.25 percent [+]
Interbank Rate 1.30 1.31 6.14 1.30 percent [+]
Money Supply M0 79890000.00 78875700.00 79890000.00 11200.00 KRW Million [+]
Money Supply M1 714961.70 725506.60 725506.60 260.40 KRW Billion [+]
Money Supply M2 2297342.90 2300468.30 2300468.30 590.60 KRW Billion [+]
Money Supply M3 3179829.40 3176239.20 3179829.40 57007.90 KRW Billion [+]
Foreign Exchange Reserves 370900.00 372480.00 374749.30 564.50 USD Million [+]
Loans to Private Sector 7440964.00 7407569.00 7440964.00 2603700.00 KRW Hundred Million [+]
Deposit Interest Rate 2.54 2.89 19.50 2.54 percent [+]
Central Bank Balance Sheet 468505.00 482483.00 510090.00 310.00 KRW Billion [+]




Last
Argentina 30.75 Jun/16
Malawi 27.00 May/16
Ghana 26.00 May/16
Gambia 23.00 May/16
Belarus 22.00 May/16
Venezuela 21.07 Apr/16
Iran 21.00 May/15
Haiti 20.00 May/16
Ukraine 16.50 Jun/16
Zambia 15.50 May/16
Afghanistan 15.00 May/16
Kazakhstan 15.00 Jun/16
Uganda 15.00 Jun/16
Yemen 15.00 May/16
Brazil 14.25 Jun/16
Mozambique 14.25 Jun/16
Angola 14.00 May/16
Liberia 13.55 Mar/16
Moldova 13.00 May/16
Djibouti 12.70 Dec/14
Guinea 12.50 May/16
Sudan 12.40 Dec/15
Suriname 12.28 Dec/14
Seychelles 12.27 Apr/16
Nigeria 12.00 May/16
Tanzania 12.00 Feb/16
Egypt 11.75 Jun/16
Zimbabwe 11.44 Mar/16
Kenya 10.50 May/16
Mongolia 10.50 May/16
Russia 10.50 Jun/16
Lebanon 10.00 May/16
Myanmar 10.00 May/16
Sao Tome and Principe 10.00 May/16
Burundi 9.82 Dec/15
Sierra Leone 9.50 May/16
Uruguay 9.25 May/16
Mauritania 9.00 May/16
Tajikistan 9.00 May/16
Uzbekistan 9.00 May/16
Ecuador 8.89 May/16
Madagascar 8.30 May/16
Armenia 7.50 Jun/16
Cape Verde 7.50 May/16
Colombia 7.50 Jun/16
Turkey 7.50 Jun/16
Azerbaijan 7.00 May/16
Georgia 7.00 Jun/16
Maldives 7.00 May/16
Namibia 7.00 Jun/16
Nepal 7.00 May/16
South Africa 7.00 May/16
Swaziland 7.00 May/16
Bangladesh 6.75 May/16
India 6.50 Jun/16
Indonesia 6.50 Jun/16
Rwanda 6.50 Jun/16
Sri Lanka 6.50 Jun/16
Vietnam 6.50 May/16
Lesotho 6.49 Dec/15
Papua New Guinea 6.25 May/16
Bhutan 6.00 May/16
Botswana 6.00 Jun/16
Iraq 6.00 May/16
Kyrgyzstan 6.00 Jun/16
Honduras 5.75 May/16
Iceland 5.75 Jun/16
Pakistan 5.75 May/16
Paraguay 5.75 Jun/16
Brunei 5.50 May/16
Bosnia and Herzegovina 5.24 Apr/16
Dominican Republic 5.00 May/16
Ethiopia 5.00 May/16
Guyana 5.00 May/16
Jamaica 5.00 May/16
Trinidad and Tobago 4.75 May/16
Bahamas 4.50 Apr/16
Laos 4.50 May/16
Qatar 4.50 May/16
Mauritius 4.40 May/16
China 4.35 May/16
El Salvador 4.33 Apr/16
Peru 4.25 Jun/16
Serbia 4.25 Jun/16
Tunisia 4.25 May/16
Algeria 4.00 May/16
Jordan 3.75 May/16
Mexico 3.75 May/16
Benin 3.50 May/16
Burkina Faso 3.50 May/16
Chile 3.50 Jun/16
Guinea Bissau 3.50 May/16
Ivory Coast 3.50 May/16
Mali 3.50 May/16
Niger 3.50 May/16
Senegal 3.50 May/16
Togo 3.50 May/16
Barbados 3.48 May/16
Macedonia 3.25 Apr/16
Malaysia 3.25 May/16
Guatemala 3.00 May/16
Libya 3.00 May/16
Philippines 3.00 Jun/16
Belize 2.50 Apr/16
Croatia 2.50 May/16
Cameroon 2.45 May/16
Central African Republic 2.45 May/16
Chad 2.45 May/16
Equatorial Guinea 2.45 May/16
Gabon 2.45 May/16
Republic of the Congo 2.45 May/16
Cuba 2.25 May/16
Kuwait 2.25 Apr/16
Morocco 2.25 Jun/16
New Zealand 2.25 Jun/16
Congo 2.00 May/16
Saudi Arabia 2.00 May/16
Bolivia 1.89 Apr/16
Australia 1.75 Jun/16
Costa Rica 1.75 May/16
Romania 1.75 May/16
Poland 1.50 Jun/16
Taiwan 1.50 May/16
Thailand 1.50 Jun/16
Cambodia 1.42 Mar/16
Albania 1.25 May/16
South Korea 1.25 Jun/16
United Arab Emirates 1.25 May/16
Comoros 1.16 Apr/16
Hungary 0.90 Jun/16
Bahrain 0.75 May/16
Hong Kong 0.75 May/16
Macau 0.75 May/16
Canada 0.50 May/16
Fiji 0.50 May/16
Norway 0.50 Jun/16
United Kingdom 0.50 Jun/16
United States 0.50 Jun/16
Panama 0.49 Apr/16
New Caledonia 0.30 May/16
Singapore 0.23 May/16
Israel 0.10 Jun/16
Oman 0.10 May/16
Czech Republic 0.05 May/16
Austria 0.00 Jun/16
Belgium 0.00 Jun/16
Bulgaria 0.00 Jun/16
Cyprus 0.00 Jun/16
Estonia 0.00 Jun/16
Euro Area 0.00 Jun/16
Finland 0.00 Jun/16
France 0.00 Jun/16
Germany 0.00 Jun/16
Greece 0.00 Jun/16
Ireland 0.00 Jun/16
Italy 0.00 Jun/16
Latvia 0.00 Jun/16
Lithuania 0.00 Jun/16
Luxembourg 0.00 Jun/16
Malta 0.00 Jun/16
Netherlands 0.00 Jun/16
Portugal 0.00 Jun/16
Slovakia 0.00 Jun/16
Slovenia 0.00 Jun/16
Spain 0.00 Jun/16
Japan -0.10 Jun/16
Sweden -0.50 May/16
Denmark -0.65 May/16
Switzerland -0.75 Jun/16