monetary policy-easing – Albanian  Telegraphic  Agency. https://en.ata.gov.al News Agency Wed, 03 Jul 2024 15:16:21 +0000 en-US hourly 1 Easing of monetary policy, BoA: Interest rate for lek is lowered to level of 3% https://en.ata.gov.al/2024/07/03/easing-of-monetary-policy-boa-interest-rate-for-lek-is-lowered-to-level-of-3/ https://en.ata.gov.al/2024/07/03/easing-of-monetary-policy-boa-interest-rate-for-lek-is-lowered-to-level-of-3/#respond Wed, 03 Jul 2024 15:16:20 +0000 https://en.ata.gov.al/?p=238882 TIRANA, July 3 /ATA/ The Supervisory Council of the Bank of Albania decided on Thursday to lower the base interest rate for the Lek from 3.25% to 3.0%.
The BoA Governor, Gent Sejko, told the press conference that “the Supervisory Council deemed it necessary to ease the stance of monetary policy, aiming to create the most suitable monetary conditions for fulfilling our objective of price stability “.
According to him, this easing illustrates the flexibility of our monetary policy and addresses short-term risks to inflation stemming from supply shocks.

Sejko stated that, “this move is in line with the monetary policy easing undertaken by the European Central Bank in June, averting undesirable consequences that this action could have on the exchange rate.”
The Governor announced that the Supervisory Council of the Bank of Albania also decided to lower the overnight deposit interest rate from 2.25% to 2.0%, as well as to lower the overnight loan interest rate from 4.25% to 4.0%. %.
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