Foreign crisis, test for inflation targeting - Azi

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Three years since it began to apply its inflation targeting strategy, the NBR (National Bank of Romania) is faced with the very clear prospect of missing this year"s target and also runs the significant risk of missing it again in 2009.

In 2005, the first year of inflation targeting, inflation stood at 8.6%, although the target was 7.5%, in 2006 it saw a spectacular decline and reached 4.9%, below the 5% target, while in 2007 it climbed back, just as spectacularly, and reached 6.6%, above the 4%...

Read the whole story in: Ziarul Financiar