Tirana, November 26, 2014/Independent Balkan News Agency
Oversight Committee of the Bank of Albania held a meeting today where it decided to reduce base interest rate by 0.25%, bringing it down to 2.25%.
This is the lowest historical level of the base interest rate ever brought down to by the Albanian financial authorities.
The Bank of Albania said that it took this decision after examining and approving the Monthly Report of the Monetary Policy.
“After being informed on the latest economic and monetary developments in the country and after discussing on their expected progress, Oversight Committee of the Bank of Albania decided to reduce the base interest rate”, said the Bank of Albania.
Yesterday, IMF mission said that monetary policy must continue to sustain economic recovery in line with the mandate of the Bank of Albania to preserve the stability of prices. This decision aims at stimulating economy, while a reduction in the cost of lending in Lek is expected to occur. /ibna/