TIRANA, July 5 /ATA/ Albania’s central bank decided to keep its key interest rate unchanged at 3% on Wednesday.
The governor of the Bank of Albania Gent Sejko said at a press conference following the meeting of the Bank’s Supervisory Council on Wednesday that “the Bank’s Supervisory Council deems the current monetary policy remains adequate to support economic growth and maintain inflation under control.”
According to him, the central bank projections support the sound financial health of the private and banking sectors of the Albanian economy, the positive outlook of the labor market, the improved households and enterprises’ confidence, as well as the presence of a continued accommodative financial environment.
“Judging on the above, the Supervisory Council decided to keep the policy rate unchanged, at 3.00%; keep the overnight lending rate unchanged, at 4.00%, keep the overnight deposit rate unchanged, at 2.00%,” Sejko said.
Guvernator Sejko also said that the elevated inflationary pressures from the domestic economy remain a risk factor to price stability in Albania. In these circumstances, the Supervisory Council will carefully monitor the situation to assess on an ongoing basis the inflationary pressure dynamics and to identify in a timely manner the necessary measures to achieve the target, including the further normalization of monetary policy stance.
Central bank Governor stated that the current monetary policy stance will provide the necessary conditions to safeguard the price stability objective in the medium term, by simultaneously paying attention to reduce its impact on restricting the economic activity, and potential adverse effects on financial stability.
/r.e/u.sh/
