BoA cuts interest rates

BoA cuts interest rates

Tirana, 5 November 2015/Independent Balkan News Agency

The Bank of Albania has decided to cut base interest rate by 0,25%. Governor of the Bank of Albania, Genti Sejko said that the base interest rate goes down from 2% to 1,75%. Explaining the reasons for this decision, Mr. Sejko said that expectations on the growth of inflation have had an impact on this decision.

Currently, average inflation for the third quarter was 1,8%. The governor of the Bank of Albania said that “gradual recovery of the economy will be the main factor for the return of inflation to its target. Economic activity saw a growth of 2,5% in the second quarter”, Sejko said.

According to Sejko, Bank of Albania’s policies have led to an all time low of interest rates on loans. /ibna/