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)