South Korea interest rate: Bank of Korea policy rate
The Bank of Korea policy rate is 3.00%, in force since Aug 27, 2026. Source: Bank for International Settlements, data to Oct 8, 2026. Raised from 2.75% on Aug 27, 2026.
Rate changes
| Since | Policy rate | Change (percentage points) |
|---|---|---|
| Aug 27, 2026 | 3.00% | +0.25 |
| Jul 16, 2026 | 2.75% | +0.25 |
| May 29, 2025 | 2.50% | -0.25 |
| Feb 25, 2025 | 2.75% | -0.25 |
| Nov 28, 2024 | 3.00% | -0.25 |
| Oct 11, 2024 | 3.25% | -0.25 |
| Jan 13, 2023 | 3.50% | +0.25 |
| Nov 24, 2022 | 3.25% | +0.25 |
| Oct 12, 2022 | 3.00% | +0.50 |
| Aug 25, 2022 | 2.50% | +0.25 |
| Jul 13, 2022 | 2.25% | +0.50 |
| May 26, 2022 | 1.75% | +0.25 |
| Apr 14, 2022 | 1.50% | +0.25 |
| Jan 14, 2022 | 1.25% | +0.25 |
| Nov 25, 2021 | 1.00% | +0.25 |
| Aug 26, 2021 | 0.75% | +0.25 |
| May 28, 2020 | 0.50% | -0.25 |
| Mar 17, 2020 | 0.75% | -0.50 |
| Oct 16, 2019 | 1.25% | -0.25 |
| Jul 18, 2019 | 1.50% | -0.25 |
| Nov 30, 2018 | 1.75% | +0.25 |
| Nov 30, 2017 | 1.50% | +0.25 |
| Jun 9, 2016 | 1.25% | -0.25 |
| Jan 4, 2016 | 1.50% | — |
Source: Bank for International Settlements (BIS), central bank policy rates, updated daily. The rate shown is the one each central bank uses to signal its policy.
Frequently asked questions
What is the interest rate in South Korea?
The Bank of Korea policy rate is 3.00% (since Aug 27, 2026).
When did the Bank of Korea last change its policy rate?
On Aug 27, 2026, from 2.75% to 3.00%.
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