The Supervisory Council of the Bank of Albania has decided to keep the base interest rate unchanged at 2.5%.
Governor Gent Sejko announced the decision during a press conference. He also said the Council kept the overnight deposit rate unchanged at 1.5% and the overnight lending rate at 3.5%.
The Council judged that the current monetary policy stance remains appropriate. It believes the policy supports economic stability.
In addition, Sejko said the current approach helps inflation return to target levels. It also provides suitable monetary conditions for the Albanian economy.
Moreover, the policy addresses uncertainty in the economic outlook. It allows more time to monitor oil prices in international markets.
At the same time, it gives flexibility to respond to negative developments.
Sejko stressed that monetary policy will continue to focus on price stability. He warned that supply shocks must not turn into long-term inflation.
Finally, he said the Bank of Albania will closely monitor the situation. It remains ready to react quickly if risks to price stability increase.
/a.c/
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