The Bank of Korea left its base rate unchanged at a record low of 0.5 percent during its February 2021 meeting, saying the recovery in the Korean economy is expected to be modest and inflationary pressures on the demand side are forecast to remain weak. Looking ahead, GDP growth this year is projected to be around 3.0 percent, led by exports and investment, generally consistent with the November forecast; while consumer price inflation will run at the low- to mid-1 percent level, exceeding the November forecast of 1.0 percent, largely reflecting the increase in global oil prices and gradual improvement in economic activity. The board also pledged to continue to conduct monetary policy in order to support the economy and stabilize consumer price inflation at the target level over a medium-term horizon, while paying attention to financial stability. source: The Bank of Korea
Interest Rate in South Korea averaged 2.98 percent from 1999 until 2021, reaching an all time high of 5.25 percent in October of 2000 and a record low of 0.50 percent in May of 2020. This page provides - South Korea Interest Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. South Korea Interest Rate - data, historical chart, forecasts and calendar of releases - was last updated on February of 2021.
Interest Rate in South Korea is expected to be 0.50 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Interest Rate in South Korea to stand at 0.50 in 12 months time. In the long-term, the South Korea Interest Rate is projected to trend around 1.25 percent in 2022, according to our econometric models.