Albanias central bank leaves key interest rate unchanged at 5.25%.

By bne IntelliNews September 1, 2011
Albanias central bank decided on August 31, 2011 to keep the base interest rate unchanged at 5.25%, news agency Lajmeshqip reported citing a statement of the banks governor Adrian Fullani. The inflationary pressure has been broadly controlled and current monetary policy is adequate to meet the banks annual inflationary target, set at 3% with a 1% fluctuation band, Fullani said. Consumer price inflation in the country eased for a second month in a row to 3.6% y/y in July 2011. However, further decline in inflationary pressure may result in a review of the monetary policy, the central banker suggested. Albanias economy is forecast to grow by 3.4% in the second quarter of 2011 and is expected to keep that pace of expansion by the end of the year. A faster economic growth may be driven bt recovering domestic demand, since the contribution of fiscal stimulus and external demand have faded out.
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