Bank of Korea Governor Kim Choong-soo has stressed that it takes at least six months and at most a year to see the effects of monetary policies.

Kim made the remark on Thursday to a group of South Korean journalists in Washington where he is attending the G20 Finance Ministers and Central Bank Governors' Meeting.

Kim’s comment came amid some calls on the central bank to lower the nation’s key interest rate to resuscitate the economy.

Kim said that banks coordinate key interest rates after watching the effects of monetary policies between six months and one year.

Kim added that a central bank should assess the economy from a mid- to long-term perspective.

In particular, Kim noted that the central bank already slashed the nation’s key interest rate by half a percentage point last July and October.

Last week, the Bank of Korea decided to keep the benchmark interest rate at two-point-75 percent.