Albania's C-Bank Keeps Key Repo Rate Unchanged at 5.75%

Albania's August annual inflation is estimated at around 2.2%, Bank of Albania Governor Ardian Fullani said in a statement.

The bank’s decision to keep the repo rate unchanged aims to keep the macroeconomic stability in the country, he added.

In January, the Bank of Albania cut the rate by 0.5 percentage points to 5.75% in a bid to ensure the country's macroeconomic stability amidst the global financial and economic turbulence. The cut was the first change in the rate since November 2007, when the central bank raised it by 0.25 percentage points to 6.25%.

Albania expects its average annual inflation this year at 2.3%, compared to 3.4% in 2008 and 2.9% in 2007. The country sees its economy growing by a real 5.8% this year, compared to a 7.2% growth rate recorded in 2008.