Bank of Korea(BOK) Governor Lee Ju-yeol said on Thursday that the latest U.S. rate cut was widely expected in the market and may have created further room for other countries in monetary policy operations. 

The U.S. Federal Reserve on Wednesday slashed its benchmark lending rate by 25 basis points to a target range of one-point-75 percent to two percent, its second rate cut in two months. 

The head of South Korea's central bank told reporters that the U.S. Fed reducing its rate somewhat removes the burden for other countries in implementing their own monetary policies.

The BOK chief assessed that the Fed did not rule out additional cuts as they hinted that they would take proper action when necessary to maintain current economic growth. 

Lee said that when deciding key rates, the central bank considers a diverse range of factors, but that currently the most important factors are external risks. 

He said the BOK will make its decision after considering how these risks, most notably the U.S.-China trade dispute and the situation in the Middle East, develop and what effect they may have on South Korea.