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16.07.202601:00:00UTC+00Bank of Korea Lifts Policy Rate to 2.75% in June, Marking First Hike Since May

South Korea’s central bank raised its benchmark interest rate to 2.75% in June 2026, up from 2.50% in May 2026. The move marks the first increase since the policy rate was held at 2.50% in May, signaling a modest tightening in monetary conditions.

The June decision suggests that policymakers at the Bank of Korea see a need to gradually normalize rates from previous levels, after keeping the benchmark steady at 2.50%. While no further details were provided on the drivers of the move, the 0.25 percentage point increase reflects a cautious approach rather than an aggressive shift in policy.

Data on the rate change was last updated on 16 July 2026, confirming the new benchmark level at 2.75% for South Korea following the June interest rate decision.

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