The governor, Gent Sejko, during the monthly press conference stated that this decision aims to offset the tight fiscal policy and the appreciation of the lek in the exchange rate.

“The Supervisory Council notes that this decision-making helps to create favorable monetary conditions for the return of inflation to the target rate during the next year. Also, it is consistent with the consolidating, current and expected direction of the fiscal policy as well as with the appreciation direction the exchange rate has followed during 2023.

However, the Supervisory Council deems that high inflationary pressures from the domestic economy remain a risk factor for price stability in the country. In this context, he emphasizes that he is ready to continue the process of normalizing the stance of the monetary policy, if this measure is considered necessary to guarantee price stability”, said Sejko.

The Bank of Albania notes that inflation rate continued to decline in the third quarter of the year, recording respective rates of 4.2% and 4% in the months of July and August. However, the decline slowed down during the third quarter, while inflation in prices of services, rents and consumer goods was generally stable, illustrating both high demand and soaring production costs in the country.
/r.e/sm/