Albanian governor says latest increase brings rates to neutral level
Gent Sejko forecasts inflation will not reach central bank’s target until second quarter of 2024
The Bank of Albania’s board raised the country’s policy rate for the fifth time on November 2, increasing it by 50 basis points to 2.75%.
The board has now raised rates by a total of 225bp this year. Central bank governor Gent Sejko described the tightening cycle as “normalisation”, and the new rate as “neutral”.
Year-on-year consumer price index inflation reached 8.1% in September, according to Albania’s national statistics agency. The central bank has an inflation target is 3%, which Sejko
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