Conditions are not ripe for further easing of monetary policy. The basic interest rate for the lek will remain at 2.75 percent, at least until the end of this year.
"The Supervisory Council considers that the current monetary conditions are suitable for the return of inflation to the target during the next year, and provide a good premise for respecting inflation in the medium term horizon. The Supervisory Board notes that the overall balance of medium-term pressures is gradually moving towards our medium-term inflation objective. abundant liquidity, low credit risk, and a positive climate of confidence in the economy", said Gent Sejko, Governor of the Bank of Albania.
While talking about the downward trend of the euro that has produced a "super lek", Sejko also spoke about the role of the institution he leads in curbing the "ruin of the European currency", writes A2.
"The analysis of the balance of payments data of the third quarter confirms that these pressures continue to be fueled by the increase in foreign currency inflows from tourism, remittances, as well as foreign direct investments. However, compared to last year, the rate of exchange rate appreciation has moderated, thanks, among other things, to the increased interventions of the Bank of Albania for currency purchases", said Sejko.
From the last conference for this year, Governor Sejko also spoke about the country's economic membership in the European Union.
"In the following, work is being done within the framework of the opening of two other group-chapters, which include chapters dealing with issues such as monetary policy, banking services and payment systems", said Sejko.
The Bank of Albania predicts that the next year will find the country's economy in a positive growth environment, with low inflation, a healthy banking sector and significant development of payment systems. (A2 Televizion)
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