Tag: monetary policy board

monetary policy board

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BOK flags stagflation risk in worst-case Iran war scenario

The Bank of Korea (BOK) said that a worst-case escalation of tensions in the Middle East could tip the economy into stagflation and held the benchmark interest rate steady for a seventh straight meeting.

2026.4.10

2 new BOK monetary policy board members nominated

The central bank has put forward an economics professor at Seoul National University and a former Bank of Korea deputy governor to replace two outgoing members.

2024.4.19

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Bank of Korea Gov. Rhee Chang-yong speaks to reporters on Thursday after the Monetary Policy Board kept the rates unchanged at 3.50 percent for the eighth consecutive meeting. [YONHAP]

Rates likely to be frozen for months, BOK says

The chance of any further rate increases has grown weak as the rate is already high and inflation is slowly yet continuously easing, said the Bank of Korea (BOK) as it kept the interest rate steady at 3.50 percent.

2024.1.11

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

BOK freezes interest rates for eighth straight meeting

The Bank of Korea (BOK) kept interest rates unchanged at 3.50 percent for the eighth straight meeting on Thursday.

2024.1.11

The 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 steady amid inflation, rising household debt

The Bank of Korea (BOK) kept the policy rates unchanged at 3.50 percent on Thursday for the seventh consecutive meeting.

2023.11.30

Bank of Korea Gov. Rhee Chang-yong speaks at a press conference held at the bank headquarters in central Seoul on Thursday following the Monetary Policy Board meeting. [BANK OF KOREA]

BOK keeps base rate steady but warns of restrictive policy

The Bank of Korea (BOK) kept its policy rate unchanged Thursday for the fourth consecutive time, holding it at 3.5 percent as it battles growing household debt and lingering financial risks.

2023.7.13

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

Menu banners displayed in front of restaurants in central Seoul on May 7. [NEWS1]

Inflation expectations fall to 3.5 percent in May

Korea’s inflation expectations fell to 3.5 percent in May, the lowest in a year.

2023.5.23

Bank of Korea’s Monetary Policy Board at a rate-setting meeting held in central Seoul on Tuesday. The board kept the rate unchanged for the second time in a row at 3.5 percent. [BANK OF KOREA]

Bank of Korea holds rates steady at 3.5%, dismisses rate-cut talk

The Bank of Korea (BOK) kept the policy rate unchanged Tuesday at 3.5 percent for the second time in a row but warned it’s too early to discuss a rate cut.

2023.4.11