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Romania’s central bank raises 2022 inflation forecast -Breaking

by Mike Robinson

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© Reuters. FILEPHOTO: In Bucharest on January 29, 2013, a man walks past the Central Bank of Romania during an International Monetary Fund mission to Romania. REUTERS/Bogdan Cristel

BUCHAREST (Reuters) – Romania’s central bank raised its annual inflation forecast for this year, driven primarily by higher energy prices it cannot control, its quarterly inflation report showed on Friday.

The bank expects inflation at 9.6% in December, compared with a previous forecast of 5.9%. After the government’s support scheme to households for their energy bills has ended, it sees inflation rising to 11.2% by the end of the second quarter.

Inflation is expected to be at 3.2% in 2023. The bank remains within the 1.5%-3.5% target area. The benchmark interest rate was raised by policymakers to 2.5%, a move that exceeded expectations by 50 basis points.

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