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The Bank of Korea's monetary policy committee cut its base rate by 25 basis points to a record low of 1.75 percent, a media official said without elaborating. Governor Lee Ju-yeol is due to hold a news conference from 11:20 a.m. (0220 GMT).
The following is a chronology of the Bank of Korea's main policy rate changes since it began setting the policy rate target in May 1999:
| 12-Mar-15 | Down 25 bp to 1.75 percent |
| Oct. 15, 2014 | Down 25 bp to 2.00 percent |
| Aug. 14, 2014 | Down 25 bp to 2.25 percent |
| 09-May-13 | Down 25 bp to 2.50 percent |
| Oct. 11, 2012 | Down 25 bp to 2.75 percent |
| 12-Jul-12 | Down 25 bp to 3.00 percent |
| 10-Jun-11 | Up 25 bp to 3.25 percent |
| March 10, 201 | 1 Up 25 bp to 3.00 percent |
| Jan. 13, 2011 | Up 25 bp to 2.75 percent |
| Nov. 16, 2010 | Up 25 bp to 2.50 percent |
| 09-Jul-10 | Up 25 bp to 2.25 percent |
| Feb. 12, 2009 | Down 50 bp to 2.00 percent |
| Jan. 9, 2009 | Down 50 bp to 2.50 percent |
| Dec. 11, 2008 | Down 100 bp to 3.00 percent |
| Nov. 7, 2008 | Down 25 bp to 4.00 percent |
| *Oct. 27, 2008 | Down 75 bp to 4.25 percent |
| Oct. 9, 2008 | Down 25 bp to 5.00 percent |
| Aug. 7, 2008 | Up 25 bp to 5.25 percent |
| Aug. 9, 2007 | Up 25 bp to 5.00 percent |
| 12-Jul-07 | Up 25 bp to 4.75 percent |
| Aug. 10, 2006 | Up 25 bp to 4.50 percent |
| 08-Jun-06 | Up 25 bp to 4.25 percent |
| Feb. 9, 2006 | Up 25 bp to 4.00 percent |
| Dec. 8, 2005 | Up 25 bp to 3.75 percent |
| Oct. 11, 2005 | Up 25 bp to 3.50 percent |
| Nov. 11, 2004 | Down 25 bp to 3.25 percent |
| Aug. 12, 2004 | Down 25 bp to 3.50 percent |
| 10-Jul-03 | Down 25 bp to 3.75 percent |
| 13-May-03 | Down 25 bp to 4.00 percent |
| 07-May-02 | Up 25 bp to 4.25 percent |
| *Sept. 19, 200 | 1 Down 50 bp to 4.00 percent |
| Aug. 9, 2001 | Down 25 bp to 4.50 percent |
| 05-Jul-01 | Down 25 bp to 4.75 percent |
| Feb. 8, 2001 | Down 25 bp to 5.00 percent |
| Oct. 5, 2000 | Up 25 bp to 5.25 percent |
| Feb. 10, 2000 | Up 25 bp to 5.00 percent |
| 06-May-99 | Set at 4.75 percent |
