BNR keeping year-end inflation target at 4.2pct

The National Bank of Romania (BNR) is keeping the year-end inflation target at 4.2pct, estimating a 3.4-pct 2020 year-end inflation, BNR Governor Mugur Isarescu said Thursday upon releasing the bank's quarterly inflation report. 

In May 2019, BNR was expecting year-end inflation to stay at 3.3pct in December 2020. 

According to the BNR, annual inflation will remain outside the central target during the second half of 2019, under the impact of unfavorable shocks in the first part of this year. 

Subsequently, it should enter a relatively stable trajectory, in the upper half of the target range, subject to the effects of the supply shocks of 2019 wearing off, concomitant with inflationary pressures on basic inflation.