Romania Ctrl Bank Sees Year-end Inflation Below Its Latest Forecast
Romania’s annual inflation rate could ease below the central bank’s latest forecast of 3.3% in December, owing to a steady exchange rate of the leu, central bank governor Mugur Isarescu said Monday.
The central bank in November revised downward its forecast on the year-end inflation to 3.3% in 2011 and 3% in 2012, from 4.6% and 3.5%, previously.
“The rate might be lower than we estimated in our latest prognosis. The exchange rate was relatively stable…, while the central bank’s foreign currency reserves are holding at high levels, above the optimum level,” Isarescu told an inflation seminar.
Romania’s inflation rate rose to 3.55% in October after four consecutive months of declines, but remained near a 20-year low of 3.45% recorded in September.
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