Bank of Korea Lifts Base Rate to 3.00%, Second Straight Hike

The Bank of Korea raised its Base Rate by 25 basis points — a quarter-point — to 3.00% on August 27, 2026. That's the second consecutive hike after July ended a three-year pause. The rate now exceeds the 2.75% that seven of nine policymakers projected in May. Reuters reports analysts see 3.25% by Q1 2027.