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Albania central bank maintains policy rate at 1.25%

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Albania central bank maintains policy rate at 1.25%

The Banka e Shqipërisë's Supervisory Council on Oct. 3 kept the monetary policy rate unchanged at 1.25%, while also maintaining the interest rates for the overnight deposit and lending facilities at 0.25% and 2.25%, respectively.

Bank of Albania Governor Gent Sejko said anticipated economic and monetary developments suggest that the current monetary policy stance is adequate.

The Albanian economy grew 4.06% in the second quarter on the back of domestic and external demand, according to data from the Institute of Statistics.

Annual inflation slipped in the first two months of the third quarter to 1.6% in August. The central bank revised downward its average inflation forecast for 2017 to 2.1% from 2.2%. Inflation is expected to return to target within 2018.

Based on available data, the supervisory council believes that the intensity of the monetary stimulus will not be reduced before the second quarter of 2018.