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Romanian Ctrl Bk Revises ’08, ‘09 Inflation Forecasts

Romanian central bank revised its inflation forecast from 6% to 6.6% in 2008, and from 3.5% to 4.2% in 2009.
Romanian Ctrl Bk Revises ’08, ‘09 Inflation Forecasts
04 aug. 2008, 12:48, English

"We should not doubt the economy is overheated. If the economy is overheated, negative effects trigger inflation pressure and external deficit which strives to reach 14%," BNR governor Mugur Isarescu said Monday.

Isarescu added the economic growth could set between 8% and 9% at yearend, while inflation rate between 6% and 7%.

The central bank has set an inflation target of 3.8% for 2008, and of 3.5% for 2009, with a plus or minus average of one percentage point.

Isarescu said the inflation target for 2010 is a tough decision, and after talks with the central bank’s administration board will give further data in that respect.