Banks › Bank of Korea › History › 27 Aug 2026
Bank of Korea: decision of 27 August 2026
The Bank of Korea raised its Base Rate by 25 basis points to 3.00%, its second increase in a row.
Decision
raise
- Rate
- 2.75%↑3.00%
- Change
- +25 bp
- Vote
- 6–1
- Announced
Sources
- Statement
- bok.or.kr/eng/bbs/E0000627/view.do?nttId=11064194&…
- Minutes
- bok.or.kr/eng/bbs/E0001620/view.do?nttId=11064684&…
- Press conference opening remarks
- bok.or.kr/fileSrc/eng/358f68ee07064a36b…
- Recorded
- 27 Aug 2026
- Data
- JSON
What the bank said
The Board said the economy was growing faster than expected and raised its growth forecasts to 3.3% for 2026 and 2.9% for 2027, from 2.6% and 2.1% in May.
It said inflation, 2.8% in July with core at 2.6%, was expected to stay above target for a considerable time and that preemptive action was needed to keep inflationary pressures from becoming widespread.
It pointed to faster house price increases in Seoul and its surrounding areas and household debt growth as financial-stability risks.
Guidance. The Board said it will decide the timing and pace of further Base Rate increases while assessing inflation, the economy and financial stability.
Dissent
One member, Hwang Kunil, voted against, proposing to keep the Base Rate at 2.75%.
Before and after
- Previous decision: 16 Jul 2026, raised the Base Rate by 25 bp to 2.75%.
- Next scheduled meeting: (calendar).
- All Bank of Korea decisions and the rate history