Central bank estimates 3pc negative inflation for Q1 2016

The National Bank of Romania (BNR, the central bank) forecasts 3 percent negative inflation for the end of March 2016, with an uncertainty interval of +/-0.6pc, according to revised data published on the BNR website.

Excluding the VAT first round effect, the inflation would have been 1.3pc at the end of the first quarter of 2016.

The 2016 inflation target of the Central Bank is 2.5pc +/-1pc.

The Nationak Bank of Romania amended to 1.4pct the inflation forecast for the end of 2016, up by 0.3pc compared to the previously estimate of 1.1pc, according to data presented Tuesday by BNR Governor Mugur Isarescu.

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