South Korea's Central Bank Governor issues interest rate cut message

The governor of the Bank of Korea said it was "too early" to talk about rate cuts. Bank of Korea Governor Rhee Chang-yong said it was too early to talk about rate cuts. South Korea's central bank was one of the first in Asia to pause its tightening cycle, sparking market speculation that it could soon start cutting interest rates. But Rhee told CNBC's Chery Kang at the Asian Development Bank's annual meeting in Incheon that such expectations were "premature." "Given that our core inflation is still well above our target, we have made it clear that our inflation has fallen below 4% in April and therefore has started to decline, but still, given that it is above target, I think we should wait and see, it would be a little early to talk about a cut right now," Rhee said on Wednesday.