Banks › Bank of Korea › History › 16 Jul 2026
Bank of Korea: decision of 16 July 2026
The Bank of Korea raised its Base Rate by 25 basis points to 2.75%.
Decision
raise
- Rate
- 2.50%↑2.75%
- Change
- +25 bp
- Vote
- unanimous
- Announced
Sources
- Statement
- bok.or.kr/eng/bbs/E0000627/view.do?nttId=11062943&…
- Minutes
- bok.or.kr/eng/bbs/E0001620/view.do?nttId=11063503&…
- Press conference opening remarks
- bok.or.kr/fileSrc/eng/c6b4b2f3180f42d0a…
- Recorded
- 16 Jul 2026
- Data
- JSON
What the bank said
The Board said growth had strengthened, led by semiconductor exports and investment, and expected 2026 growth to considerably exceed its May forecast of 2.6%.
It said CPI inflation rose to 3.2% in June and was expected to stay above target for a considerable time as cost pressures and the high exchange rate persisted and demand pressures grew.
It cited faster house price increases in Seoul and its surrounding areas and substantial growth in household loans as financial-stability risks.
Guidance. The Board said a stance consistent with further rate hikes would be needed and that it will decide the timing and pace of further increases.
Before and after
- Previous decision: 28 May 2026, held the Base Rate at 2.50%.
- Next decision: 27 Aug 2026, raised the Base Rate by 25 bp to 3.00%.
- All Bank of Korea decisions and the rate history