This paper empirically investigates the impact of the Bank of Korea(BOK)communication on expectations about monetary policy rate. First, the BOKcommunication index is measured by the methodology of Eijffinger andGeraats(2006). Using this index, the effects of the communication onexpectations about the BOK policy rate in terms of accuracy and homogeneityare investigated. Empirical results show that an increase in the BOKcommunication index has a statistically significant and positive impact onforecasting accuracy, but it has no significant impact on forecastinghomogeneity. This implies that the BOK communication might have a positiveinfluence on the effectiveness of monetary policy by improving expectationsabout the BOK policy rate.