Bank of Korea holds key rate at 3% after two consecutive hikes

Briefing by News4U · First published 2026-10-22 07:05:38 UTC

The BOK kept its benchmark rate unchanged at 3 percent on Oct. 22, citing the need to assess the effects of July and August hikes amid inflation and Middle East tensions.

The Bank of Korea held its benchmark interest rate steady at 3 percent on Oct. 22 after raising it in July and August, the first back-to-back hikes since January 2023. All seven board members supported the decision. [1] [2] [3] [4]

The central bank said it will maintain a hawkish stance, citing inflation near 3 percent, rising oil prices linked to Middle East tensions, and stronger-than-expected growth. It will decide the timing and pace of further hikes while assessing inflation, the economy and financial stability. [2] [3] [4]

Sources

1. BOK holds key rate steady at 3 pct after 2 consecutive rate hikes

   Yonhap Business · 2026-10-22 00:51:27 UTC · Full text

2. (2nd LD) BOK holds key rate steady at 3 pct after 2 consecutive rate hikes

   Yonhap Business · 2026-10-22 01:52:49 UTC · Full text

3. BOK holds rate at 3%, leaves door open to November hike

   Pulse by Maeil Business · 2026-10-22 02:09:18 UTC · Full text

4. (3rd LD) BOK holds rate at 3 pct after 2 straight hikes, signals continued tightening

   Yonhap Business · 2026-10-22 04:08:01 UTC · Excerpt

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