Korea Business News Agency - NSP NEWS AGENCY.

(Seoul=NSP News Agency) danbi kim Journalist = The Monetary Policy Board of the Bank of Korea decided today to raise the Base Rate by 25 basis points. This is the first increase in about three months since last August.

November 25, The Bank of Korea raised its base rate by 25 basis points to 1% during its November 2021 meeting. Accordingly, the base rate will be operated at the 1% level until the next decision. BOK raises it again this time after freezing it after raising it once in August.

According to the 'Financial Stability Situation' of the Bank of Korea in September, using the loan balance and the percentage of variable-rate parts to estimate the increase in households’ annual interest burden due to the base rate hike, when the base rate rises by 25bp, the interest burden will be 2 trillion won compared to the end of 2020. It is estimated to increase by 900 billion won.

NSP News Agency danbi kim Journalist readyntalk@nspna.com
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