Executive Summary for Monetary Policy Report (March 2025) | Monetary Policy Report(상세) | Periodicals | News & Publications |  Bank of Korea
Central bank: bok | Type: statement | Date: 2025-03-13

Executive Summary for Monetary Policy Report (March 2025)
Monetary Issues
2025.03.13
Monetary Policy
Price stability
Financial stability
National economy
Monetary Policy Department(02-759-4143)
Attachment
Executive Summary for Monetary Policy Report (March 2025).pdf
Datasets for Figures in Executive Summary (March 2025).xlsx
Monetary Policy Report at a Glance
Monetary Policy Decisions
Base Rate Cut from 3.50% to 2.75%
Economic and
Financial Developments
 
Inflation is expected to remain stable
After falling into the 1% range, consumer price inflation has gradually risen, stabilizing at around the target level.
Looking ahead, it is projected to remain at around 2%.
Domestic economic growth has slowed
Economic growth has slowed due to a sluggish consumption and weaker export growth.
Low growth is expected to continue for the time being, with this year’s growth rate projected to slow to around 1.5%.
 
Household loans slowed
and exchange rate rose
Growth in household loans has continued to slow, while the Korean won to U.S. dollar exchange rate has risen sharply.
Going forward, it will be necessary to be mindful of any potential rebound in household debt growth and in exchange rate volatility.
Prospects for Monetary Policy
The BOK will closely assess domestic and global economic policy changes, developments in domestic political conditions, and the effects of past Base Rate cuts on inflation, on economic growth, and on financial stability.
Based on these assessments, the BOK will determine the timing and pace of any further Base Rate cuts.
In case of any inconsistency, the original version in Korean will prevail.
Data for figures are available in the attached Excel file.
Inquiries: tel 82-2-759-4143, email bokmpcm@bok.or.kr
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