TIRANA, Nov 3 /ATA/ The Supervisory Council of the Bank of Albania today decided to maintain the base interest rate unchanged at 2.5%.
Bank of Albania Governor Gent Sejko announced that the overnight deposit rate would also remain unchanged at 1.5%.
Similarly, the overnight lending rate will be maintained at 3.5%.
“According to the Supervisory Council, this approach strikes the right balance between increased uncertainty surrounding the latest forecasts and the potential need to normalise monetary policy in the future. It therefore creates the most favourable monetary conditions for sustainable economic growth and bringing inflation back to its target,” Sejko said.
Sejko also emphasised that rising external inflationary pressures and heightened risks to the economic outlook warrant a prudent and flexible monetary policy approach.
“For these reasons, future decisions will be guided by new economic and financial data, an assessment of the overall balance of inflationary pressures and the risks surrounding a sustainable return of inflation to its target. The Supervisory Council will continue to closely monitor economic and financial developments and stands ready to respond at the appropriate time, in the right direction and with the necessary degree of intensity to any risks that could undermine price stability,” the Bank of Albania Governor added.
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