South Korea Interest Rate  1999-2017 | Data | Chart | Calendar | Forecast

The central bank of South Korea left its base rate steady for the tenth straight meeting at a record low of 1.25 percent in May, as expected, adopting a stance of stability in its first meeting since President Moon Jae-In's inauguration. Policymakers await the new administration's policy reforms, which unofficially begun with Moon's recent proposal for a 10 trillion Won stimulus in 2017. Interest Rate in South Korea averaged 3.35 percent from 1999 until 2017, 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.

South Korea Interest Rate
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Calendar GMT Actual Previous Consensus Forecast (i)
2017-02-23 01:00 AM Interest Rate Decision 1.25% 1.25% 1.25% 1.25%
2017-04-13 01:00 AM Interest Rate Decision 1.25% 1.25% 1.25% 1.25%
2017-05-25 01:00 AM Interest Rate Decision 1.25% 1.25% 1.25% 1.25%
2017-07-13 01:00 AM Interest Rate Decision 1.25%
2017-08-31 01:00 AM Interest Rate Decision
2017-10-19 01:00 AM Interest Rate Decision




South Korea Maintains Key Rate Steady At 1.25%


The central bank of South Korea left its base rate steady for the tenth straight meeting at a record low of 1.25 percent in May, as expected, adopting a stance of stability in its first meeting since President Moon Jae-In's inauguration. Policymakers await the new administration's policy reforms, which unofficially begun with Moon's recent proposal for a 10 trillion Won stimulus in 2017.

Excerpts from the statement by The Bank of Korea:

Based on currently available information the Board considers that the global economic recovery has continued to expand. The global financial markets have shown generally stable movements, with for example the trend of rising stock prices continuing. Looking ahead the Board sees the global economic recovery as likely to be affected by factors such as the directions of the US government's economic policies, the pace of monetary policy normalization by the US Federal Reserve, the movements toward spreading trade protectionism, and political uncertainties in major countries.
 
The Board judges that the trend of domestic economic growth has expanded, as exports and investment have improved although the pace of increase in consumption has remained weak. On the employment front, the number of persons employed has continued to rise significantly year-on-year, although the unemployment rate has also risen as job search activities have increased. Going forward, domestic economic growth is expected to be slightly above the path projected in April. The Board judges that consumption will likely continue its modest trend of growth, but that the trends of improvement in exports and investment should expand compared to the April forecasts.
 
Consumer price inflation has continued at the 2% target level, in line mainly with increases in the prices of petroleum and agricultural, livestock and fisheries products. Core inflation (with food and energy product prices excluded from the CPI) has fallen slightly to the mid-1% range, and the rate of inflation expected by the general public has remained at the mid-2% level. Looking ahead the Board expects that consumer price inflation will for the time being fluctuate at around the 2% level, and for the year as a whole not diverge greatly from the April projection (1.9%). Core inflation appears likely to show a level in the mid- to upper-1% range.
 
Looking ahead, the Board will conduct monetary policy so as to ensure that the recovery of economic growth continues and consumer price inflation can be stabilized at the target level over a medium-term horizon, while paying attention to financial stability. As the inflationary pressures on the demand side are not expected to be high although the trend of domestic economic growth is likely to expand somewhat, the Board will maintain its stance of monetary policy accommodation. In this process it will closely monitor the progress of monetary policy normalization by the US Federal Reserve, conditions related to trade with major countries, the directions of the new government's economic policies, the trend of increase in household debt, and geopolitical risks.

Charles | charles@tradingeconomics.com
5/25/2017 9:55:24 AM



South Korea Money Last Previous Highest Lowest Unit
Interest Rate 1.25 1.25 5.25 1.25 percent [+]
Interbank Rate 1.36 1.36 6.14 1.27 percent [+]
Money Supply M0 89978600.00 88678900.00 92124900.00 11200.00 KRW Million [+]
Money Supply M1 793708.30 791637.40 793708.30 260.40 KRW Billion [+]
Money Supply M2 2450489.90 2441496.60 2450489.90 590.60 KRW Billion [+]
Money Supply M3 3433139.20 3407869.40 3433139.20 57007.90 KRW Billion [+]
Foreign Exchange Reserves 378456.20 376570.00 378456.20 564.50 USD Million [+]
Loans to Private Sector 7651663.00 7651042.00 7651663.00 2603700.00 KRW Hundred Million [+]
Deposit Interest Rate 1.80 2.54 19.50 1.80 percent [+]
Private Debt To Gdp 253.50 254.10 254.10 237.30 percent [+]
Central Bank Balance Sheet 479434.90 485176.00 510090.10 310.30 KRW Billion [+]
Foreign Stock Investment 6637.70 5728.96 6637.70 349.48 USD Hundreds of Millions [+]


South Korea Interest Rate Notes

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 2017.

Actual Previous Highest Lowest Dates Unit Frequency
1.25 1.25 5.25 1.25 1999 - 2017 percent Daily



interest rate by Country

Last
Brazil 10.25 May/17
Russia 9.00 Jun/17
Turkey 8.00 Jun/17
Mexico 7.00 Jun/17
India 6.25 Jun/17
Indonesia 4.75 Jun/17
China 4.35 Jun/17
Australia 1.50 Jun/17
South Korea 1.25 May/17
United States 1.25 Jun/17
Canada 0.50 May/17
United Kingdom 0.25 Jun/17
Euro Area 0.00 Jun/17
France 0.00 Jun/17
Germany 0.00 Jun/17
Italy 0.00 Jun/17
Netherlands 0.00 Jun/17
Spain 0.00 Jun/17
Japan -0.10 Jun/17
Switzerland -0.75 Jun/17