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Romanian Ctrl Bk ’09 Inflation Target, Very Likely To Be Reached

Romanian central bank’s inflation target of 3.5%, with a one percentage point variation band, for 2009 is very likely to be attained, the central bank’s governor Mugur Isarescu said Monday.
Romanian Ctrl Bk '09 Inflation Target, Very Likely To Be Reached
23 feb. 2009, 17:28, English

“I think there are high chances that the inflation target for 2009 to be attained,” Isarescu said in a press conference.
 
In 2007 and 2008, Romania’s inflation rate was higher than the central bank’s target.
 
In January, Romanian consumer price index rose by a higher than expected 1.24%, compared with the previous month, and the annual inflation widened to 6.71%, from 6.3% end-December, according to the National Statistics Institute data.
 
The annual inflation rate was 6.3% at the end of 2008, down compared to 6.57% in December 2007, but 1.5 percentage points above the upper limit of the variation band.
 
Last year, the central bank’s target interval was at 2.8-4.8%, while the target for 2007 was at 3%-5%.