Reuters logo
3 years ago
Albanian central bank cuts key benchmark rate to 2.5 pct from 2.75 pct
May 30, 2014 / 12:21 PM / 3 years ago

Albanian central bank cuts key benchmark rate to 2.5 pct from 2.75 pct

TIRANA, May 30 (Reuters) - The Albanian central bank cut its key benchmark rate to a record low of 2.5 pct from 2.75 on Friday, the bank said in a statement ahead of a news conference by governor Ardian Fullani.

Friday's cut of 25 basis points followed a similar reduction in February, but the moves have done little to revive lending to a sluggish economy expected to grow 2.1 percent in 2014.

The central bank has cut its policy rate by a cumulative 275 basis points since mid-2011. Annual inflation in April was 1.7 percent. Albania's central bank has targeted an inflation rate in the 2 to 4 percent band. (Reporting by Benet Koleka, editing by Mark Heinrich)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below