Bank of Korea Governor Lee Seongtae has hinted at a rate hike, citing the upbeat economic prospect for next year.

Freezing the benchmark interest rate at a record low of two percent Thursday, the governor told reporters that the economy will likely continue to post current account surpluses next year, expecting economic recovery in other advanced countries as well.

Lee said that the bank will weigh the proper timing of a possible rate cut by reviewing various factors every month.

He added that the bank needs to normalize the key rate before it's too late since it takes six months to a year for monetary policies to take effect.

[Photo : ]