Romanian central bank confident of inflation drop

The Romanian central bank said Wednesday 16 August it is confident of a drop in inflation, while promising to maintain its cautious approach to monetary policy, guarding against the possibility of inflation rising again.

"Inflation rose by 0.11 pct in July to an annual rate of 6.2 pct, which is good news," said the governor of the Central Bank of Romania (BNR) Mugur Isarescu during a press conference.

"Despite the downward trend in inflation, we have no plans to relax monetary policy," he said