Central bank expects year-end inflation of -0.4 pct, down from May’s estimate of 0.6 pct

The National Bank of Romania (BNR) is expecting an inflation rate of -0.4 percent for the end of 2016, one percentage point below the 0.6-percent estimate announced in May this year, shows the Quarterly Report on Inflation released on Monday by BNR Governor Mugur Isarescu.

For end-2017 the central bank estimates an inflation of 2 percent, also down from a 2.7-percent forecast in the May report.

“In 2018, inflation will probably be above the target of 2.5 percent. In 2017, it will get quite close to the target. We don’t have to change the target now, as we’ve been suggested, because we will have plenty of time to do so as we draw closer to the Eurozone, to see what happens there too. But obviously the inflation rate will shift towards the target,” Isarescu explained.

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