TIRANA, November 1 – The Supervisory Council of the Bank of Albania (BoA) estimates that internal inflationary pressures continue to remain high in the analysis of economic indicators.
For this reason, it decided to reduce the intensity of the monetary stimulus, aiming to create the appropriate financial conditions for the return of inflation to the target, within the next year in Wednesday’s meeting.
The Supervisory Council decided to increase the base interest rate by 0.25 percentage points, bringing it to the level of 3.25%.
The governor of the Bank of Albania, Gent Sejko, said at the press conference after the meeting that the Council will also increase the overnight loan interest rate by 0.25 percentage points, bringing it to 4.25%, and increase the interest rate of the one-day loan by 0.25 percentage points bringing it to the level of 2.25%.
Sejko said that the Supervisory Council judged that the reduction of the monetary stimulus through the further normalization of the stance of the monetary policy, is a necessary measure to guarantee the return of inflation to the target within the next year. /argumentum.al
