AlbanianEconomy.comYour News from Albania
Albania Interest Rate Unchanged
C'Bank Governor A. Fullani
Tirana–The Bank of Albania kept its base rate unchanged at 6.25 per cent on Wednesday saying that inflation is under control and macroeconomic stability indicators are “within its main targets”.
Yearly base inflation stood at 2.6 per cent in November while current account deficit widened to 13.7 per cent of GDP, highest deficit ever for Albania. The current account deficit was the main reason against lowering interest rates. The central bank has stood neutral in monetary policy since November 2007.
Current Account deficit widened sharply in 2007 and 2008, due to higher prices in imported commodities and higher public expenditures.
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Posted by editor
on Dec 25th, 2008 and filed under Banking & Finance, Economy, Invest-Inform.
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