BoA intervenes to keep inflation under control

TIRANA, April 21 – Trying to keep inflation under control, the central Bank of Albania said it intervened a number of times in the country’s money market during the final quarter of 2007.
During that quarter the BoA exercised the agreement on re-purchasing one-week maturity bonds by injecting 3.8 billion leks per week into the market. This action resulted in a temporary withdrawal of liquidity of one-day maturities.
The bank further noted that the hard currency fall was gradual and stopped in December. It had been present in the hard currency market buying at second-tier banks. That action sought to fulfill the Net International Reserve, according to a statement.
The bank said their intervention had been less than the previous quarter and previous year. (Tirana Times Staff)