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Albania to further reduce interest rate

Xinhua, April 1, 2016 Adjust font size:

Albania will continue to reduce the interest rate in 2016, aiming to encourage crediting and consumption, a local daily reported Friday.

The Bank of Albania (BoA) said that its annual report for 2015 suggested that the stimulating monetary policy adopted last year has increased liquidity in the banking system, and reduced the key interest rate of the lek to a historic low of 1.75 percent at the end of 2015.

In order to address the low inflation pressure facing the Balkan country, the central bank will stick to its stimulating monetary policy in 2016, according to the Albanian Daily News.

The BoA said the decision will create conditions for encouraging domestic demand and bringing inflation to target in the medium term. Endi