Bank of Korea Governor Lee Ju-yeol said Thursday that consumer prices will remain low for the time being amid the coronavirus pandemic but deflation is unlikely.

He also expressed concern over recent price fluctuations in assets such as real estate due to increased liquidity.

Attending a meeting on inflation targets, the central bank chief said that as the inflation rate is expected to gradually rise next year, there is little chance of the  general decline in prices for goods and services that would define deflation.

He added, however, that if economic recovery suffers considerable delays, price levels can be affected.

The governor also said the current COVID-19 situation has not sharply diverged from the scenario used in the BOK's economic forecast issued late last month when it slashed the country's growth outlook for this year to minus zero-point-two percent.