South Korea - Money Market Rate
South Korea: Money Market Rate
| Mnemonic | IRMM.IKOR | |
|---|---|---|
| Unit | % p.a., NSA | |
| Adjustments | Not Seasonally Adjusted | |
| Monthly | ||
| Data | Feb 2023 | 3.44 |
| Jan 2023 | 3.3 | |
Series Information
| Source | The Bank of Korea |
| Release | Market Interest Rates |
| Frequency | Monthly |
| Start Date | 1/31/1991 |
| End Date | 2/28/2023 |
South Korea: Markets
| Reference | Last | Previous | Units | Frequency | |
|---|---|---|---|---|---|
| Lending Rate | 24 Mar 2023 | 3.5 | 3.5 | %, NSA | Daily |
| Stock Market Index | 23 Mar 2023 | 2,424 | 2,416 | Index, NSA | Daily |
| Average Long-term Government Bond | Feb 2023 | 3.45 | 3.41 | % p.a., NSA | Monthly |
| Money Market Rate | Feb 2023 | 3.44 | 3.3 | % p.a., NSA | Monthly |
| Treasury Bills (over 31 days) | Feb 2023 | 3.53 | 3.58 | % p.a., NSA | Monthly |
Release Information
The Bank of Korea (BO), South Korea's central bank, publishes several key interest rate indicators to track the "price of money"; price paid when money is borrowed or lent.
Interest rates are disseminated daily and Monthly and the following rates are available:
- Interest rates on aggregate credit ceiling loans (rediscount policy variable rate);
- Overnight interbank call rates (weighted average rates by trading volume);
- Commercial Banks & Saving Banks' weighted averages of interest rates on time & saving deposits (newly extended, with a maturity of one year and more but less than two years);
- Commercial Banks & Saving Banks' weighted averages of interest rates on loans & discounts(newly extended);
- Yields on Treasury bonds (period average rates, a maturity of three years).
The data for the 10-year rate refers to the par yield rates. “Long term (in most cases 10 year) government bonds are the instrument whose yield is used as the representative ‘interest rate’ for this area. Generally the yield is calculated at the pre-tax level and before deductions for brokerage costs and commissions and is derived from the relationship between the present market value of the bond and that at maturity, taking into account also interest payments paid through to maturity.” (https://stats.oecd.org/index.aspx?queryid=86).
Interest rates are simple annual percentages.
