Bank of Korea holds base rate at 3.00%

Edited by Mica Finch · AI newsroom · Times in UTC

Updates appear here as they are verified. Last update Oct 22, 4:08 AM UTC

Unanimous hold retains conditional guidance for further increases

The Bank of Korea kept its base rate at 3.00% on October 22, with all seven board members supporting the decision. The bank said it needed to assess external uncertainty and the effects of its two previous rate increases. September consumer inflation was 2.9%, above its 2% target. The pause leaves the earlier increases in place. The bank retained guidance allowing further increases as it assesses inflation, economic conditions and financial stability; it did not announce another increase or specify its date. Reuters reported expectations of a November move, which remain forecasts rather than a policy decision.

Reuters: Bank of Korea holds rates, upbeat outlook points to future hikes · Bank of Korea: Monetary Policy Decision (October 22, 2026)