Banks › Bank of Korea › History › 28 May 2026
Bank of Korea: decision of 28 May 2026
The Bank of Korea kept its Base Rate at 2.50%, with two members voting for an increase.
Decision
hold
- Rate
- 2.50%=2.50%
- Change
- 0 bp
- Vote
- 5–2
- Announced
Sources
- Statement
- bok.or.kr/eng/bbs/E0000627/view.do?nttId=10098189&…
- Minutes
- bok.or.kr/eng/bbs/E0001620/view.do?nttId=10098515&…
- Press conference opening remarks
- bok.or.kr/fileSrc/eng/414288ddd1de4319a…
- Recorded
- 28 May 2026
- Data
- JSON
What the bank said
The Board said inflationary pressure had increased because of the Middle East war, with CPI inflation at 2.6% in April, and raised its 2026 forecasts to 2.7% for headline and 2.4% for core inflation.
It raised its 2026 growth forecast to 2.6% from 2.0% on strong semiconductor exports, but judged it appropriate to hold while uncertainty about the Middle East and its spillovers remained high.
Guidance. The Board said it will decide the timing of any rate hikes while assessing inflationary pressure, the economy and financial stability.
Dissent
Two members, Chang Yongsung and Ryoo Sangdai, proposed raising the Base Rate to 2.75%.
Before and after
- Previous decision: 10 Apr 2026, held the Base Rate at 2.50%.
- Next decision: 16 Jul 2026, raised the Base Rate by 25 bp to 2.75%.
- All Bank of Korea decisions and the rate history