The Supervisory Council of the Bank of Albania decided to increase the basic interest rate for the first time since March of this year, from 3% to 3.25%.

In his speech after the meeting, the Governor of the Bank of Albania, Gent Sejko, said that high inflationary pressures from the domestic economy remain a risk factor for price stability in the country and that the balance of risks to inflation has shifted upwards.

“The Bank of Albania has increased by 0.25% the basic interest rate for the lek, bringing it to 3.25 percent. The Governor of the Bank of Albania, Gent Sejko, argued the decision-making with the fact that the price crisis continues to feel strong. The Bank of Albania predicts that with today’s increase, inflation will return to the 3% target within the second half of next year,” stated Gent Sejko.