TIRANA, December 6/ATA/ The Bank of Albania opened today the proceedings of the fifteenth meeting on Economic Research in Southeast Europe.
Governor of the Bank of Albania Gent Sejko said that, “Today, inflation is the main topic in the discussion of monetary policy”.
According to him, recent inflationary developments have divided academics and central bankers into two camps that hold diametrically opposed positions.
On the one hand, there are those who think that current inflation is a dangerous phenomenon that can trigger an inflationary situation and consequently seek immediate intervention to undo balance policies and interest rates, while on the other hand there are those who support the idea that current developments of inflation rates are temporary phenomena, driven by supply problems that reflect the negative effects of the pandemic.
The Governor stressed that COVID-19, with its problems and limitations, continues to be a dominant factor in our economic and social life and activity, and is of course an important part of the analysis and research for the central bank.
“However, the developments of last year show that the research agendas of central banks have been enriched with the study of other risks, such as those related to climate change and environment, demographic risks, digitalization and digital currencies. These have been identified as major and long-term challenges for the global economy and the authorities of each country, and of course the Bank of Albania has begun work on creating the infrastructure for modeling and analysis of these phenomena,” said Sejko. /a.a/p.s./
