South Korea: central bank policy rate

Last updated: Oct 9, 2026 11:15 UTC

Policy rate3.00%Aug 28, 2026

For information only. Figures are reproduced from the cited sources, may be delayed or contain errors, and are not advice of any kind. Always check the original source. This is not investment advice. Translations on this site are not official BIS translations.

SinceAug 27, 2026hike +25 bp

1 year ago2.50%

Last 2 years (daily values)

Policy rate since 2000 (month-end values)

All changes since 2000

Date	From	To	Change
Aug 27, 2026	2.75%	3.00%	hike +25 bp
Jul 16, 2026	2.50%	2.75%	hike +25 bp
May 29, 2025	2.75%	2.50%	cut -25 bp
Feb 25, 2025	3.00%	2.75%	cut -25 bp
Nov 28, 2024	3.25%	3.00%	cut -25 bp
Oct 11, 2024	3.50%	3.25%	cut -25 bp
Jan 13, 2023	3.25%	3.50%	hike +25 bp
Nov 24, 2022	3.00%	3.25%	hike +25 bp
Oct 12, 2022	2.50%	3.00%	hike +50 bp
Aug 25, 2022	2.25%	2.50%	hike +25 bp
Jul 13, 2022	1.75%	2.25%	hike +50 bp
May 26, 2022	1.50%	1.75%	hike +25 bp
Apr 14, 2022	1.25%	1.50%	hike +25 bp
Jan 14, 2022	1.00%	1.25%	hike +25 bp
Nov 25, 2021	0.75%	1.00%	hike +25 bp
Aug 26, 2021	0.50%	0.75%	hike +25 bp
May 28, 2020	0.75%	0.50%	cut -25 bp
Mar 17, 2020	1.25%	0.75%	cut -50 bp
Oct 16, 2019	1.50%	1.25%	cut -25 bp
Jul 18, 2019	1.75%	1.50%	cut -25 bp
Nov 30, 2018	1.50%	1.75%	hike +25 bp
Nov 30, 2017	1.25%	1.50%	hike +25 bp
Jun 9, 2016	1.50%	1.25%	cut -25 bp
Jun 11, 2015	1.75%	1.50%	cut -25 bp
Mar 12, 2015	2.00%	1.75%	cut -25 bp
Oct 15, 2014	2.25%	2.00%	cut -25 bp
Aug 14, 2014	2.50%	2.25%	cut -25 bp
May 9, 2013	2.75%	2.50%	cut -25 bp
Oct 11, 2012	3.00%	2.75%	cut -25 bp
Jul 12, 2012	3.25%	3.00%	cut -25 bp
Jun 10, 2011	3.00%	3.25%	hike +25 bp
Mar 10, 2011	2.75%	3.00%	hike +25 bp
Jan 13, 2011	2.50%	2.75%	hike +25 bp
Nov 16, 2010	2.25%	2.50%	hike +25 bp
Jul 9, 2010	2.00%	2.25%	hike +25 bp
Feb 12, 2009	2.50%	2.00%	cut -50 bp
Jan 9, 2009	3.00%	2.50%	cut -50 bp
Dec 11, 2008	4.00%	3.00%	cut -100 bp
Nov 7, 2008	4.25%	4.00%	cut -25 bp
Oct 27, 2008	5.00%	4.25%	cut -75 bp
Oct 9, 2008	5.25%	5.00%	cut -25 bp
Aug 7, 2008	5.00%	5.25%	hike +25 bp
Aug 9, 2007	4.75%	5.00%	hike +25 bp
Jul 12, 2007	4.50%	4.75%	hike +25 bp
Aug 10, 2006	4.25%	4.50%	hike +25 bp
Jun 8, 2006	4.00%	4.25%	hike +25 bp
Feb 9, 2006	3.75%	4.00%	hike +25 bp
Dec 8, 2005	3.50%	3.75%	hike +25 bp
Oct 11, 2005	3.25%	3.50%	hike +25 bp
Nov 11, 2004	3.50%	3.25%	cut -25 bp
Aug 12, 2004	3.75%	3.50%	cut -25 bp
Jul 10, 2003	4.00%	3.75%	cut -25 bp
May 13, 2003	4.25%	4.00%	cut -25 bp
May 7, 2002	4.00%	4.25%	hike +25 bp
Sep 19, 2001	4.50%	4.00%	cut -50 bp
Aug 9, 2001	4.75%	4.50%	cut -25 bp
Jul 5, 2001	5.00%	4.75%	cut -25 bp
Feb 8, 2001	5.25%	5.00%	cut -25 bp
Oct 5, 2000	5.00%	5.25%	hike +25 bp
Feb 10, 2000	4.75%	5.00%	hike +25 bp

Which rate is shown (BIS notes, in English)

From 7 Mar 2008 onwards: Bank of Korea base rate; from 6 May 1999 to 6 Mar 2008: target overnight call rate(base rate).

The Bank of Korea base rate has been changed from the overnight call rate to 7 day repurchase agreements rate since Feb 2008.

Changes by year

Method

We download the BIS daily policy-rate series (WS_CBPOL). A change is recorded on the first day the published value differs from the previous day's value. Series that ended (for example euro area members before joining the euro) are not listed. bp = basis points (0.01 percentage point).

About this page

The policy rate of South Korea is 3.00% (BIS data as of Aug 28, 2026).