Macroeconomic Forecast Romania

Romania's consumer price inflation slowed to 3.4% y-o-y in November, down from 3.5% y-o-y in October. In month-on-month terms price growth slowed to 0.4% in the same period, down from 0.6% the previous month. We expect inflationary pressures in Romania will remain subdued in the coming months, providing scope for the monetary authorities to cut the benchmark policy rate by 50 bps by end-2012, and reiterate our end-2012 inflation forecast of 3.0% y-o-y.

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