Gent Sejko: Basic interest rate increases to 3%

The governor of the Bank of Albania, Gent Sejko, spoke about the economic situation in Albania. 

During a statement to the media, he stated that the basic interest rate will increase from 2.75% to 3.00%.

"The Supervisory Council of the Bank of Albania decided:

increase the basic interest rate, from the level of 2.75% to the level of 3.00%;

to increase the one-day loan interest rate, from 3.75% to 4.00%;

to increase the one-day deposit interest rate from 1.75% to 2.00%". 

The Supervisory Council judged that the high inflationary pressures originating from the internal environment are an important risk factor, first, for respecting the objective of price stability and, further, for the stable and long-term growth of the country. In these circumstances, he considered it necessary to reduce the monetary stimulus through an increase in the basic interest rate. The Supervisory Council notes that this measure is in accordance with our previous communications and consistent with the recent moves of the main central banks," said Sejko./ CNA

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