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Romanian Central Bank Confirms 2012 Inflation Outlook At 3.2%

Romania's central bank on Tuesday said it expects annual inflation to be 3.2 percent at the end of 2012, in line with the previous forecast released in February. The bank also reaffirmed its inflation forecast for end-2013 at 3 percent.

The outlook envisages that inflation is set to remain within the 1 percentage point variation band around the central target, which is set at 3 percent for 2012 and 2.5 percent from 2013 onwards.

The National Bank of Romania said it expects inflation to reach its peak of 3.8 percent at the end of the third quarter and to stabilize somewhat at levels close to 3 percent starting with the fourth quarter.

Further, the central bank said it expects Romania's economic growth to return to positive quarterly rates starting with the second quarter. In the whole of 2012, the growth rate is expected to be slower than that in 2011, with the anticipated recession in the euro area dampening external demand.

by RTT Staff Writer

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