Bank of Korea(BOK) Governor Rhee Chang-yong said on Monday that the currency swap between South Korea and the U.S. is unlikely to be on the agenda of summit talks of President Yoon Suk Yeol and U.S. President Joe Biden.

The BOK chief told reporters that he does not expect the topic to come out at the meeting, adding a currency swap is not a problem that must be resolved urgently.

Stressing that South Korea is currently a creditor country, Rhee said that continued mention of a currency swap would give the impression that there is a problem in the nation's foreign currency market.

Meanwhile, the central banker rejected speculations that lending rates that are lower than the BOK's benchmark interest rate are going against the central bank's tightening monetary policy. 
 
Rhee said that overall, the policy is having the intended tightening effect, and it remains to be seen how this affects inflation.

He predicted that the benchmark interest rates in major countries, including the U.S. and the European Union, would be raised a couple of more times.