Wednesday, November 27, 2013

Albania cuts benchmark rate to record low 3.25 pct

TIRANA 
Nov 27

(Reuters) - Albania's central bank cut its benchmark interest rate to a fresh record low of 3.25 percent on Wednesday, trying to stimulate the Balkan country's sluggish economy.
The rate previously stood at 3.5 percent.
"Reducing the base interest rate reflects our projections for low inflation in the coming period as a result of slow economic growth, and at the same time falling pressures on inflation from other economies," Governor Ardian Fullani told reporters.

"The cut reinforces monetary stimulus in the economy and creates more suitable measures for achieving the inflation goal for the medium term," he said after the bank's monthly meeting. (Reporting by Benet Koleka; Editing by Matt Robinson)

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