TIRANA, Oct. 3 (Xinhua) -- The Supervisory Council of the Bank of Albania announced on Wednesday that it will keep the base interest rate unchanged at 3 percent.
Interest rates for the overnight deposit facility and overnight lending facility were also kept unchanged, at 2 percent and 4 percent respectively.
Gent Sejko, governor of the Bank of Albania, said in a statement that the decision was based on the bank's forecast that the economy will continue to grow, and the inflation rate will return to the 3-percent target next year.
He attributed the mild inflation rate to reduced inflation among trading partners and the relatively strong value of the Albanian lek.
Sejko remained optimistic about the mid-term economic outlook. "Economic activity in Albania is expected to continue growing over the medium-term horizon, bolstered by further expansion in both domestic and foreign demand," he said. ■
