Tag: policy rate

policy rate

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Bank of Korea Governor Rhee Chang-yong strikes the gavel during a Monetary Policy Committee meeting at the Bank of Korea headquarters in central Seoul on Oct. 23. [YONHAP]

Virtually all bond experts expect BOK to keep base rate steady: Survey

An overwhelming majority of bond experts in Korea (96 percent) believe the Bank of Korea (BOK) will hold its policy rate steady for a fourth consecutive time in its rate-setting meeting later this week, a survey showed Tuesday.

2025.11.25

Apartment buildings in central Seoul are seen from Namsan in Jung District on June 24. [NEWS1]

BOK likely to freeze key rate this week amid escalating housing prices: experts

Korea's central bank is widely expected to keep its policy rate frozen this week to rein in soaring housing prices and household loans, experts said Sunday.

2025.7.6

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Bank of Korea Gov. Rhee Chang-yong at the Monetary Policy Board meeting held at the bank headquarters in central Seoul on Thursday. [BOK]

BOK keeps rates unchanged for sixth straight meeting

The Bank of Korea (BOK) kept the rate unchanged at 3.50 percent on Thursday for the sixth straight meeting.

2023.10.19

Prices for petrol and diesel are on display at a gas station located in Seocho District in southern Seoul on Tueday. Oil prices gained more than four percent over fears of the impact of the weekend attack on Israel by Hamas. [NEWS1]

Inflation fears grow over impact of Israel-Hamas conflict

Global oil prices edged down slightly on Tuesday after gaining more than four percent in the previous session over fears of the impact of the weekend attack on Israel by Hamas, with some concern it could drive up inflation.

2023.10.10

People shop for food at a supermarket in Seoul on Oct. 3. [YONHAP]

Consumer prices up 3.7 percent on-year in September

Korea’s consumer prices rose 3.7 percent on-year in September as prices for oil and agricultural products rose, according to Statistics Korea on Thursday.

2023.10.5

Diego P. Iribarren, economics director at S&P Global Market Intelligence, speaks during an interview with Korea JoongAng Daily at the company’s Seoul office in central Seoul on Sept. 19. [PARK SANG-MOON]

[Interview] Volatile climate puts global economy at risk, warns S&P economist

Abnormal climate patterns, such as El Nino, pose a risk to the global economy, potentially causing economic losses, inflation, and supply chain disruptions, warns an S&P economist.

2023.9.22

Finance Minister Choo Kyung-ho, second from right, speaks during a meeting held with financial regulators in central Seoul on Thursday. [MINISTRY OF ECONOMY AND FINANCE]

Finance minister warns of global volatility as Fed holds rates steady

The global financial market may grow more volatile if policy rates stay high for a prolonged period, said Finance Minister Choo Kyung-ho on Thursday following the Fed’s decision to hold the target rate at a 22-year high of 5.25 to 5.5 percent.

2023.9.21

Lee Sang-hyeong, Deputy Governor at Bank of Korea, center, speaks at a press conference held at the central bank’s office in central Seoul on Thursday. [BOK]

BOK to maintain tight money approach over inflation uncertainties

The Bank of Korea will maintain a restrictive monetary policy amid uncertainties that may accelerate inflation, such as rising global oil prices and volatility in the won-dollar exchange rate.

2023.9.14

Bank of Korea Gov. Rhee Chang-yong at the Monetary Policy Board meeting held at the bank office in central Seoul on Thursday. [JOINT PRESS CORP]

Bank of Korea holds rate steady for fifth time as uncertainties remain

The Bank of Korea (BOK) kept the rate unchanged at 3.50 percent on Thursday for a fifth consecutive time.

2023.8.24

Bank of Korea Gov. Rhee Chang-yong at the Monetary Policy Board meeting held at the bank’s office in central Seoul on Thursday. [JOINT PRESS]

Bank of Korea holds rate steady at 3.5 percent

The Bank of Korea kept its policy rate unchanged Thursday for the fourth consecutive time, holding it at 3.50 percent.

2023.7.13