Economy · 4 sources combined
Base Rate Held at 3.00% Annually
Pause After Two Consecutive Hikes
In short
The Bank of Korea decided to keep the base rate at 3.00% per year.
After raising rates twice in July and August, it is now adjusting the pace.
Inflation remains high, so there is still a possibility of another increase next month.
Key facts
| When | The Bank of Korea's Monetary Policy Committee decided on October 22, 2026. |
|---|---|
| Who | This is the first hold decision after Governor Shin Hyun-song took office. |
| What | The base rate will be maintained at 3.00% annually. |
| How | After raising rates twice in July and August, the pace is being adjusted. |
What it means for me
Loan and deposit rates are likely to remain at current levels for some time.
Mortgage rates are expected to remain largely stable for now.
Business loan interest burden will not increase further.
Deposit rates will be maintained, and the next month's decision needs to be watched.
