Albania orders first rate hike in 11 years

Increase of 50 basis points returns policy rate to pre-Covid level

National Bank of Albania_Tirana_wikicommons/Dori.jpg
The Bank of Albania
wikicommons/Dori (https://bit.ly/3FMbD8F)

The Bank of Albania’s supervisory council doubled its policy rate from 0.5% to 1% on March 23, the first time it has raised rates since March 2011.

The 50bp hike returned the policy rate to its March 2020 level. In a press conference, governor Gent Sejko said that the central bank expected inflation to remain above its target for most of the coming two years.

Sejko cited a 3.9% year-on-year inflation figure for February, up from 3.7% in January. The Bank of Albania has a 3% inflation target.

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact info@centralbanking.com or view our subscription options here: http://subscriptions.centralbanking.com/subscribe

You are currently unable to copy this content. Please contact info@centralbanking.com to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to Central Banking? View our subscription options

Register for Central Banking

All fields are mandatory unless otherwise highlighted

This address will be used to create your account

Most read articles loading...

You need to sign in to use this feature. If you don’t have a Central Banking account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account

.