The bank also cut its estimate on the 2012 inflation to 3%, from 3.5%, citing favorable base effects and lower volatile prices.
Isarescu said the annual inflation rate could ease to below 2% in March 2012, followed by increases in the summer months and a period of stabilization in the second half of the year.
Romanian consumer prices fell for the fourth straight month in September, on cheaper food, while the annual inflation dropped to 3.45%, the lowest rate in over two decades.
The central bank targets an annual inflation of 3% at the end of 2011, plus/minus one percentage point around the band.