Speaking at a press briefing after the central bank’s benchmark interest rate meeting on Wednesday, Isarescu also said not any monetary policy measure can positively counterbalance the fiscal policy measures. He added the central bank’s decisions are based on data, figures, facts in the economic and financial sectors.
The central bank on Wednesday left its benchmark interest rate unchanged at 2.25% a year.
Romanian consumer prices accelerated further in February, to an annual rate of 4.7%, from an annual rate of 4.3% in January, according to data from the country’s statistics board INS. Compared with January, consumer prices grew 0.3% in February, the data showed.
Early February 2018, Romania’s central bank revised its inflation forecast upwards to 5% from 3.9% for the first two quarters of the year and to 3.5% for the end of the year, from a previous projection of 3.2%.