Bank of Korea(BOK) governor Rhee Chang-yong said on Tuesday that consumer prices are expected to come in at four-point-five percent in March.

Addressing inflation at a local forum, the central banker said consumer inflation is expected to further decline from four-point-eight percent in February to below four-point-five in March before reaching the three percent range by the year’s end.

He also questioned the longevity of the past mindset of real estate as a guaranteed investment and advised young people to exercise more caution in managing their assets in consideration of their capabilities and interest rate trends.

The BOK chief also expressed both support and concern for the government’s push to rectify the oligopoly market status enjoyed by commercial banks.

He said government intervention can promote information disclosure and encourage banks to make better use of their profits, but such measures must not hinder development of the private sector-led banking industry.

On economic growth, Rhee forecast one-point-one percent growth in the first half and two percent in the second while projecting a rebound from the third quarter.