TIRANA, May 8 /ATA/ The Supervisory Council of the Bank of Albania estimates that the monetary policy stance remains adequate for guaranteeing price stability in the medium term, so it decided to leave the basic interest rate unchanged, for the lek at the level of 3.25%.
Judging on the above, the Supervisory Council decided to keep the policy rate unchanged, at 3.25%; keep the interest rate on overnight deposit facility unchanged, at 2.25%; and the interest rate on overnight lending facility unchanged, at 4.25%.
“The Supervisory Council notes that the current position of the monetary policy is in line with our expectations of the basic scenario,” said Sejko.
The governor emphasized that monetary policy decisions will be oriented towards pursuing the target of BoA for price stability and economic growth.
“The Supervisory Council assessed that the overall balance of inflationary pressures is gradually approaching our inflation target. However, inflationary pressures from the domestic economy still remain relatively high. In this context, future monetary policy decisions will continue to be conditioned by new information. These decisions will always be in accordance with our objective of price stability, as well as consistent with the direction of the fiscal policy and the performance of the exchange rate”, said Sejko.
/r.e/sm/
