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The Bank of Albania lowers the base rate to 2.75%

2024-11-06 17:10:11, Ekonomi CNA
The Bank of Albania lowers the base rate to 2.75%
Governor of the Bank of Albania, Gent Sejko

The Bank of Albania has reduced the basic interest rate from 3% to 2.75%.

The news was announced by the governor of the Bank of Albania, Gent Sejko, in a press conference after the meeting of the Supervisory Council.

"The Supervisory Council of the Bank of Albania decided:

- to reduce the basic interest rate by 0.25 percentage points, from the level of 3% to the level of 2.75%;

- to reduce the one-day deposit interest rate by 0.25 percentage points, from 2% to 1.75%;

- to reduce the one-day loan interest rate by 0.25 percentage points, from 4% to 3.75%.

The Supervisory Council considers that this move will create more appropriate monetary conditions to control the impact that short-term supply shocks may have on inflation in the future. It illustrates the willingness of the Supervisory Board to react in a timely and symmetrical manner to inflation movements above and below the target, and is consistent with our previous communications to pursue an information-led monetary policy young", said Sejko.

We remind you that this is the second reduction of the base rate for this year, after the first reduction decided at the beginning of July./ CNA





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