Albania cuts rates as renovations to HQ completed
Non-performing loans fall to ‘around 20%’ of total loan book
The Bank of Albania cut its policy rate to a record low of 1.75% from 2% today (November 5), as the country continued to undershoot its inflation target.
Gent Sejko, the bank's governor, said in a public statement the bank has revised its initial GDP growth estimate for 2015 from 2.7% to 2.5%, while annual inflation was estimated at 2.2% in September, below the official target of 3%.
In the subsequent press conference, Sejko gave a positive account of financial stability, noting the "ratio of
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