Bank of Albania updates on key interest rate

Governor of the Bank of Albania Gent Sejko announced that the Bank’s Supervisory Council decided to keep the key interest rate unchanged at 2.5%.

During the press conference on the monetary policy decision, Sejko stated that the Supervisory Council approved the Interim Monetary Policy Report, CE Report quotes ATA.

He noted that new data received over the past two months indicate rising inflationary pressures, driven primarily by price increases in global markets and inflation in trading partner countries.

According to the Bank of Albania, consumer price inflation rose during July and August, reaching an average level of 3.3%. This increase was driven mainly by fuel and unprocessed food prices, while inflation in services and rents declined.

The Bank assesses that the rise in inflation in recent months was somewhat faster than previously forecast, while imported pressures intensified due to rising prices for oil, energy products, food and other commodities on international markets.

Photo Bank of Albania