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Bucharest
February 4, 2023
BUSINESS

Central Bank might raise inflation target to 8.2 pc

The National Bank of Romania (BCR) modified this year’s inflation rate forecast, raising it from 7.8 per cent, its August estimate, to 8.2 per cent, the figure which will be announced today, in the quarterly report on inflation, sources attending the negotiations with the IMF stated, quoted by Mediafax. At the same time, BNR set the inflation target for 2012 at the 2011 level, of 3 per cent, +/- 1 pc, and set a steady target as of 2013, at 2.5 per cent, +/- 1 pc. Central bank sources stated that the targets set are to be discussed with the Government.
BNR has failed to meet inflation targets in the past three years and estimates that the annual rate will be above the target this year also, following the hiking of VAT, from 19 pc to 24 pc, from July onwards.

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