South Korea's central bank chief has highlighted the need to adjust the level of monetary easing.

Speaking to reporters on Tuesday, Bank of Korea(BOK) Governor Lee Ju-yeol said that if the economy grows in line with its growth potential and consumer prices near the target inflation, there's a need to adjust the central bank's level of monetary easing.

While projecting that the country's economic growth and consumer prices will be similar to the April forecast, the governor said consumer prices could surge higher than current levels in the fourth quarter.

The BOK governor did not, however, hint at the possibility that the rate may be raised at the next monetary policy board meeting in July.  

The central bank has held the base rate steady at one-point-five percent for about six months since the point-two-five percentage point increase in November 2017.