BoK Holds Monetary Policy Meeting Today... Possibility of 2.50% Rate Hike

The Bank of Korea's Monetary Policy Board will hold a meeting on the 16th to determine the base interest rate. The current base rate of 2.50% has been frozen for eight consecutive times since last July.

In a survey conducted by the Financial Investment Association from the 3rd to the 8th targeting bond market experts, 66% of respondents predicted a base rate hike at this meeting. BOK Governor Shin Hyun-song hinted at the possibility of a rate hike within the year during a press conference on monetary policy directions in May, citing inflation, growth, exchange rates, and real estate as factors.

If the base rate is raised this time, it will mark a tightening decision for the first time in 3 years and 6 months since January 2023.