The Central Bank of Albania cut its main interest rate by 25 points to 2.75 per cent, the lowest yet in the recent history, due to the protracted low demand for loans and weaker inflation.
“At its meeting on 26 February 2014, the Supervisory Council of the Bank of Albania decided to cut the interest rate on repurchase and reverse repurchase agreements (REPO and reverse REPO) by 0.25 percentage points. Following this move, the interest rate on repurchase and reverse repurchase agreements is 2.75 per cent (from 3.00 per cent),” said BoA Governor Ardian Fullani.
Despite a bout of inflation created in January by increased excise duties for fuels and tobacco, stood at 1.7 per cent, while BoA aims to have an inflation of about 3 per cent with a band of tolerance of plus minus 1 per cent. (Albanianeconomy.com)