By Iulian Ernst in Bucharest Romania’s headline inflation (chart) dropped to 7.2% y/y in February, slightly above the 7.1% consensus expectations, from 7.4% y/y in January, according to the statistics office. On the upside, the core inflation edged down by 0.5 percentage points (pp) from 8.2% y/y in January to 7.7% y/y in February, according to bne IntelliNews estimates. At the latest monetary policy meeting in mid-February, central bank governor Mugur Isarescu mentioned the option of rate cuts later this year, but only after the core inflation rate enters a firm downward path. The February fi…