South Korea’s central bank kept the policy interest rate steady at a record low of 1.50 percent on Thursday, in a widely expected decision after the central bank lowered rates in June to pre-emptively combat an outbreak of Middle East Respiratory Syndrome.
The following is a chronology of the Bank of Korea’s main policy rate changes since it began setting the policy rate target in May 1999:
– – – –
June 11, 2015 Down 25 bp to 1.50 percent
March 12, 2015 Down 25 bp to 1.75 percent
Oct. 15, 2014 Down 25 bp to 2.00 percent
Aug. 14, 2014 Down 25 bp to 2.25 percent
May 9, 2013 Down 25 bp to 2.50 percent
Oct. 11, 2012 Down 25 bp to 2.75 percent
July 12, 2012 Down 25 bp to 3.00 percent
June 10, 2011 Up 25 bp to 3.25 percent
March 10, 2011 Up 25 bp to 3.00 percent
Jan. 13, 2011 Up 25 bp to 2.75 percent
Nov. 16, 2010 Up 25 bp to 2.50 percent
July 9, 2010 Up 25 bp to 2.25 percent
Feb. 12, 2009 Down 50 bp to 2.00 percent
Jan. 9, 2009 Down 50 bp to 2.50 percent
Dec. 11, 2008 Down 100 bp to 3.00 percent
Nov. 7, 2008 Down 25 bp to 4.00 percent
*Oct. 27, 2008 Down 75 bp to 4.25 percent
Oct. 9, 2008 Down 25 bp to 5.00 percent
Aug. 7, 2008 Up 25 bp to 5.25 percent
Aug. 9, 2007 Up 25 bp to 5.00 percent
July 12, 2007 Up 25 bp to 4.75 percent
Aug. 10, 2006 Up 25 bp to 4.50 percent
June 8, 2006 Up 25 bp to 4.25 percent
Feb. 9, 2006 Up 25 bp to 4.00 percent
Dec. 8, 2005 Up 25 bp to 3.75 percent
Oct. 11, 2005 Up 25 bp to 3.50 percent
Nov. 11, 2004 Down 25 bp to 3.25 percent
Aug. 12, 2004 Down 25 bp to 3.50 percent
July 10, 2003 Down 25 bp to 3.75 percent
May 13, 2003 Down 25 bp to 4.00 percent
May 7, 2002 Up 25 bp to 4.25 percent
*Sept. 19, 2001 Down 50 bp to 4.00 percent
Aug. 9, 2001 Down 25 bp to 4.50 percent
July 5, 2001 Down 25 bp to 4.75 percent
Feb. 8, 2001 Down 25 bp to 5.00 percent
Oct. 5, 2000 Up 25 bp to 5.25 percent
Feb. 10, 2000 Up 25 bp to 5.00 percent
May 6, 1999 Set at 4.75 percent
* shows inter-meeting rate changes