Albania’s central bank maintained its key interest rate at 2.50 percent, but said “the monetary stimulus may increase further, in the event the economic and monetary developments will shift the balance of inflation risks downside.”
The Bank of Albania, which has cut its rate by 50 basis points so far this year, issued the following statement by its governor, Ardian Fullani:
“Today, on 30 July 2014, the Supervisory Council of the Bank of Albania reviewed and approved the Monetary Policy Statement of the Bank of Albania on the first half of 2014. Based on Albania’s latest monetary and economic developments and discussions on their outlook, the Supervisory Council of the Bank of Albania decided to keep the key interest rate unchanged, at 2.50%. The Supervisory Council deems that the inflationary pressures from the real and financial sectors of the economy are weak and will remain so. Under these conditions, the monetary policy will remain stimulating, hence providing the adequate monetary conditions for inflation to return to the target over the medium term.
Let me now proceed with an overview of the economic developments and key issues discussed at today’s meeting.
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