Phoinike

Main Menu

  • Albania Real Estate
  • Albania Lending
  • Albania Credit
  • Albania Economy
  • Loans

Phoinike

Header Banner

Phoinike

  • Albania Real Estate
  • Albania Lending
  • Albania Credit
  • Albania Economy
  • Loans
Albania Lending
Home›Albania Lending›Albania’s c-bank raises policy rate to 1.75% amid heightened inflationary pressures

Albania’s c-bank raises policy rate to 1.75% amid heightened inflationary pressures

By Blake G. Keller
August 4, 2022
0
0

TIRANA (Albania), Aug 4 (SeeNews) – Albania’s central bank has decided to raise its key rate to 1.75% from 1.25% as inflationary pressures continue to rise, the governor of Albania has said. the central bank, Gent Sejko.

The central bank also raised the overnight lending facility interest rate to 2.75% from 2.25%, as well as the overnight deposit facility rate to 0.75% from 0.25%, Sejko said in a statement Wednesday.

“The normalization of monetary policy will create more adequate conditions to preserve price stability and allow inflation to return to the medium-term objective. At the same time, monetary policy will remain accommodative throughout the process of normalization, and it will not jeopardize the conditions for economic growth,” Sejko said.

Consumer price inflation in Albania reached 7.4% in June due to rising global food, oil and transport prices. The central bank expects inflation to remain elevated in 2022 and return to the 3% target in the first half of 2024, the statement said.

However, the projections remain uncertain, with inflationary risks pointing to the upside and those related to economic growth – to the downside, Sejko said.

Since the beginning of 2022, the Central Bank of Albania has raised its key rate twice – in July and March.

Related posts:

  1. Trevor Lawrence will receive a signing bonus in Crypto; Mobile wallet use soars
  2. Pandemic, Online Shopping May Lower Clothing Prices This Eid
  3. Oil prices slide from six-week high as concerns over India’s demand weigh
  4. Poverty in Myanmar could double after chaos of coup, UN report says

Recent Posts

  • More Midwest banks see opportunity to finance solar and energy efficiency projects
  • bne IntelliNews – Home of the Humbled Lira, the Largest Turkish Cryptocurrency Market in the Middle East
  • Ukrainian grain shipment arrives at Albanian port – EURACTIV.com
  • PenFed Pathfinder® Rewards Visa Signature Credit Card Review 2022 – Forbes Advisor
  • Local businesswoman warns of jury duty scam that cost her $1,000 – Port Arthur News

Archives

  • August 2022
  • July 2022
  • June 2022
  • May 2022
  • April 2022
  • March 2022
  • February 2022
  • January 2022
  • December 2021
  • November 2021
  • October 2021
  • September 2021
  • August 2021
  • July 2021
  • June 2021
  • May 2021
  • April 2021
  • March 2021
  • January 2021
  • December 2020
  • November 2020

Categories

  • Albania Credit
  • Albania Economy
  • Albania Lending
  • Albania Real Estate
  • Loans
  • Terms and Conditions
  • Privacy Policy