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TIRANA, March 26–Bank of Albania announced that it would keep its base rate unchanged at 5.75%.
Consumer inflation in February was 1.9%, near the lower end of the central bank’s target range. Inflation has shown a falling trend due to declines in foodstuffs and fuel.
In January, the bank cut its base rate for the first time in two years from 6.25% to 5.75% in order to stimulate the economy in the global financial crisis.
The rate held steady throughout 2008 as monetary authorities followed a neutral policy, contributing to a balance between lending growth and stimulus for consumption and credit.
The last rise was in November 2007 after five successive increases since July 2006.
