Bank of Korea Raises Interest Rate from 1.25% to 1.5%
Seoul | 30th November 2017
The Monetary Policy Board of the Bank of Korea decided today to raise the Base Rate by 25 basis points, from 1.25% to 1.50%, for the intermeeting period. Based on currently available information the Board considers that the global economic recovery has continued to expand. The global financial markets have shown stable movements, with stock prices displaying moderate upward trends for example.
” BANK OF KOREA Raises Interest Rate by 0.50% to 1.50% “
Looking ahead, the Board will conduct monetary policy so as to ensure that the recovery of economic growth continues and consumer price inflation can be stabilized at the target level over a medium-term horizon, while paying attention to financial stability. As it is forecast that inflationary pressures on the demand side will not be high for the time being, while the domestic economy is expected to continue its solid growth, the Board will maintain its accommodative monetary policy stance.
In this process it will judge carefully whether it is necessary to adjust its accommodative monetary policy stance further, while closely checking future economic growth and inflation trends. It will also carefully monitor any changes in the monetary policies of major countries, conditions related to trade with major countries, the trend of increase in household debt, and geopolitical risks.
Official Press Release by The Bank of Korea