Central bank revises downwards the inflation rate forecast to 1.6pc at end of 2017

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The National Bank of Romania (BNR) has revised the inflation forecast for the end of this year to 1.6%, BNR Governor Mugur Isarescu said on Monday, inflation rate previously to reach 1.7%.

For the end of 2018, the BNR estimates an inflation rate of 3.1%, down from 3.4% and for the first quarter of 2019 an inflation rate of 3.4%.

According to the National Bank of Romania, the annual CPI inflation rebound in the target range is expected to take place in the fourth quarter of 2017.

At the end of 2017, the central bank estimates an inflation rate of 1.9% without the direct effects of the VAT rate cut and 2.6% at constant rates.

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