Bank of Albania announced on Wednesday the decrease by 0.25% of the interest rate in a press conference. The Governor Genti Sejko made this announcement while presenting the analysis of the Supervisory Council on the country’s economy current situation.
According to the Governor Sejko, “Bank of Albania’s Supervisory Council decided to decrease by 0.25% points of percentage the basic interest rate, to 1.75 points of percentage. The average inflation during the third quarter was 1.8%, equal to the second quarter of 2015. Based on the Bank of Albania analysis, the inflation fluctuations will remain low at 2% during 2015, while during 2016 we expect the inflation to grow to 2.2%.”
The Governor declared that the revival of the country’s economy will be a key factor for returning the inflation rate at the required level. During the second quarter of the year, the economic activity increased by 2.5% and that was supported by the investments and trade exchanges with foreign trade partners.
News source/photo credits: ATA