Bank of Korea(BOK) Governor Rhee Chang-yong on Tuesday talked down any discussion of a rate cut before inflation shows signs of nearing the BOK's mid- and long-term target ranges.

Rhee made the remarks in a press conference after the central bank's monetary policy committee maintained its benchmark interest rate at three-point-five percent.

He said that a discussion on the possibility of a rate cut is inappropriate at the current juncture in consideration for a number of uncertainties, such as inflation, for the second half of the year, adding that the committee members agreed on both fronts.

Regarding the market's assessment that the central bank might be ending its hawkish monetary policy, many of the members expressed a belief that the market's expectations are excessive.

Rhee said the committee unanimously decided to freeze the base rate, but a majority were open to the possibility of an additional hike to three-point-75 percent.