Tag: base rate

base rate

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Automatic teller machines of South Korean commercial banks are installed in Seoul on Oct. 14.

Banks' household mortgage lending rates up for fifth month in September

The average interest rate on new bank loans stood at 4.57 percent in September, up 0.17 percentage points from a month earlier.

2026.10.29

How to bury your head in the sand

Monetary tightening can cause immediate pain. But a loose policy can prompt a bigger hardship down the road.

2023.11.7

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Bank of Korea Gov. Rhee Chang-yong speaks at Jeju Forum held on Jeju Island on Friday. [KOREA CHAMBER OF COMMERCE AND INDUSTRY]

BOK's Rhee warns against quick rate cut

Bank of Korea (BOK) Gov. Rhee Chang-yong on Friday advised the public not to expect a rate cut any time soon.

2023.7.14

[Editorial] Managing inflation and exchange rate is key

Our financial authorities must not deviate from its focus on controlling inflation just because the base rate has been frozen.

2023.2.26

Bank of Korea Gov. Rhee Chang-yong speaks to reporters at the press conference held in central Seoul on Wednesday. [NEWS1]

Korea makes bold rate move with one eye on the weak won

Korea upped interest rates Wednesday by half a point with more increases promised by the central bank, which noted both inflation and the weak won as being central to its stance.

2022.10.12

Bank of Korea Gov. Rhee Chang-yong at a monetary policy board meeting held in central Seoul on Wednesday [BOK]

Bank of Korea raises base interest rate 50 basis points

The Bank of Korea raised the base interest rate by a historic 50 basis points to 2.25 percent, the central bank announced Wednesday.

2022.7.13

Finance Minister Choo Kyung-ho, left, and Bank of Korea Governor Rhee Chang-yong before the meeting in central Seoul on Monday. [BANK OF KOREA]

Half-point rate increase not out of the question

Bank of Korea Gov. Rhee Chang-yong said a half-point rate increase is not out of the question.

2022.5.16

Lee Seung-heon, a senior deputy governor at Bank of Korea, speaks at a forum held in central Seoul on Nov. 4. [NEWS1]

Bank of Korea reassured by Fed comments after rate increase

The Bank of Korea is interpreting comments from Federal Reserve Chairman Jerome Powell on Wednesday as an indication that rates in the United States will rise steadily and not too aggressively.

2022.5.5