FED minus BOK (USD/KRW)
• Coverage: 1999–2026
Federal Reserve vs. South Korea Base Rate Spread (1999–2026)
Historical policy rate spread between the Federal Reserve (FED Policy Rate) and the Bank of Korea (BOK Policy Rate). As of Sep 2026, FED stands at 3.88% vs. BOK at 3.00%, resulting in a bilateral policy rate differential of +88 bps (+0.88 percentage points).
Current Spread (Sep 2026)
+88 bps
FED: 3.88% · BOK: 3.00%
Mean Spread (1999–2026)
-69 bps
28 overlapping years
Widest Positive Spread (2023)
+188 bps
Maximum FED premium over BOK Lowest / Negative Spread (2011)
-313 bps
Minimum FED minus BOK differential
FED (Blue) vs. BOK (Amber) Policy Rates (1999–2026)
Toggle between Dual Policy Rate Trajectories (% p.a.) and Basis-Point Differential (FED minus BOK, bps).
Source: Bank for International Settlements (WS_CBPOL) Blue: Federal Reserve · Amber: Bank of Korea
Annual FED vs. BOK Policy Rate Differential Ledger (1999–2026)
| Year | FED Policy Rate | BOK Policy Rate | Spread (% pts) | Spread (Basis Points) |
|---|---|---|---|---|
| 2026 | 3.88% | 3.00% | +0.88 pp | +88 bps |
| 2025 | 3.62% | 2.50% | +1.12 pp | +112 bps |
| 2024 | 4.38% | 3.00% | +1.38 pp | +138 bps |
| 2023 | 5.38% | 3.50% | +1.88 pp | +188 bps |
| 2022 | 4.38% | 3.25% | +1.13 pp | +113 bps |
| 2021 | 0.12% | 1.00% | -0.88 pp | -88 bps |
| 2020 | 0.12% | 0.50% | -0.38 pp | -38 bps |
| 2019 | 1.62% | 1.25% | +0.37 pp | +37 bps |
| 2018 | 2.38% | 1.75% | +0.63 pp | +63 bps |
| 2017 | 1.38% | 1.50% | -0.12 pp | -12 bps |
| 2016 | 0.62% | 1.25% | -0.63 pp | -63 bps |
| 2015 | 0.38% | 1.50% | -1.12 pp | -112 bps |
| 2014 | 0.12% | 2.00% | -1.88 pp | -188 bps |
| 2013 | 0.12% | 2.50% | -2.38 pp | -238 bps |
| 2012 | 0.12% | 2.75% | -2.63 pp | -263 bps |
| 2011 | 0.12% | 3.25% | -3.13 pp | -313 bps |
| 2010 | 0.12% | 2.50% | -2.38 pp | -238 bps |
| 2009 | 0.12% | 2.00% | -1.88 pp | -188 bps |
| 2008 | 0.12% | 3.00% | -2.88 pp | -288 bps |
| 2007 | 4.25% | 5.00% | -0.75 pp | -75 bps |
| 2006 | 5.25% | 4.50% | +0.75 pp | +75 bps |
| 2005 | 4.25% | 3.75% | +0.50 pp | +50 bps |
| 2004 | 2.25% | 3.25% | -1.00 pp | -100 bps |
| 2003 | 1.00% | 3.75% | -2.75 pp | -275 bps |
| 2002 | 1.25% | 4.25% | -3.00 pp | -300 bps |
| 2001 | 1.75% | 4.00% | -2.25 pp | -225 bps |
| 2000 | 6.50% | 5.25% | +1.25 pp | +125 bps |
| 1999 | 5.50% | 4.75% | +0.75 pp | +75 bps |