Risk and sentiment
Korea CD 91D Rate
Korean 91-day certificate-of-deposit yield.
At a glance
Korea CD 91D Rate: latest value and prior change
As of 2026-07-22, Korea CD 91D Rate is 2.91 %. It is unchanged from 2.91 % on 2026-07-21.
Within the default comparison window of 1,000 observations from 2022-06-24 to 2026-07-22, the latest value is at the tie-adjusted 36th percentile. Available history covers 1995-01-03 to 2026-07-22 with 8,011 observations.
- Observed on
- Default comparison window
- 2022-06-24–2026-07-22
- Observations · observed cadence
- 1,000 · Daily
- Data source
- Bank of Korea ECOS
A high or low percentile does not by itself make the indicator positive, negative, or a buy or sell signal.
Time-series chart
Korea CD 91D Rate
1995-01-03–2026-07-22
Long-history series are stored as real provider observations. Index, FX, VIX, and ratio charts use historical backfill where providers expose it; Korean investor flow and margin-credit feeds expand as stable historical endpoints become available.
Interpretation guide
The CD 91-day rate: bank funding costs and the benchmark for floating-rate loans
The Korea CD 91D Rate is the secondary-market yield on 91-day negotiable certificates of deposit issued by banks, published by the Korea Financial Investment Association. It measures banks' short-term funding cost and has long served as the reference rate for floating-rate loans and rate derivatives, so its moves feed straight into household and corporate interest burdens.
What this rate prices
The CD rate is the market price of three-month bank funding. It combines policy-rate expectations with bank-sector funding demand and credit conditions, reflecting both at once.
- When hike expectations build, the CD rate tends to rise ahead of the actual policy move.
- A widening spread over the BOK Base Rate indicates tightening bank funding conditions.
- Deposit competition or regulatory-ratio management can lift CD issuance and push the rate higher.
Transmission to households and firms
The 91-day CD rate is one of the main references for floating-rate mortgages and corporate loans. When it rises, debt-service costs follow with a lag, squeezing consumption capacity and property demand.
- During CD-rate upswings, track whether Korea Housing Loans YoY starts to decelerate.
- Higher interest burdens are a headwind for domestic consumer names but can lift bank net interest margins near term.
- Even after the rate turns down, loan repricing lags, so relief reaches borrowers late.
Indicators that sharpen the read
On its own, a rising CD rate cannot tell you whether the driver is policy expectations or bank stress. Its position relative to neighboring short rates settles the question.
- If the Korea Call Rate is stable while the CD rate climbs, suspect bank-specific funding demand.
- A narrowing or inverted gap versus the Korea CP 91D Rate calls for a broader credit-market reassessment.
- In periods of thin CD issuance, the posted rate can lose representativeness — weigh it accordingly.