Tuesday, November 4, 2008

Romania Raises Inflation Forecasts


03 November 2008
Bucharest _ Romania's central bank, BNR, on Monday raised this year’s inflation rate to 6.7 percent from an earlier forecast of 6.6 per cent.

Furthermore, forecast inflation for 2009 has been raised to 4.5 percent from a previous estimate of 4.2 percent. The hikes are attributed to uncertainties on the global financial markets, the BNR said.

This is the fifth time this year that the BNR has raised its inflation forecast for 2008. Curbing inflation is a key requirement for Romania if it is to switch its currency to the euro, a goal the government has set for 2014.

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