The board of directors of the central bank (NBR) is set toapprove the quarterly report on inflation today, which will mostlikely include a raised forecast for this year's inflation, whilethe benchmark interest rate and the level of banks' minimumreserves will remain unchanged, as analysts believe.
While the upward revision of the inflation forecast for the endof this year is certain, about the new level there is just theindication that it will not exceed 5%, according to the statementsNBR governor adviser Adrian Vasilescu made in mid-April. InFebruary, the NBR marginally revised the inflation projection, from3.4% to 3.6%. In March, annual inflation leapt, though, to 8.01%,beating all expectations.
NBR governor Mugur Isărescu stated in early April that the NBRwould review the projection upwardly as inflationary pressures werenot easing.
Many analysts have already significantly raised their inflationforecasts: Raiffeisen expects a 5.3% level instead of 4.5%, BCRbelieves inflation will stay at above 8% until July before droppingto 5.2% toward yearend, and ING estimates 5.7% for December. Themarket agrees the NBR is going to miss the inflation target, set at3%, this year again.
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