Quarterly Monetary Policy Report, 2017/III

The data analysed in this report indicates a continuous growth of the Albanian economy, supported by internal and external factors, in a stimulating financial environment with low-risk premiums. Meanwhile, the average inflation in the second quarter slowed down, dictated by temporary factors which do not affect the upwards trend in the medium-term. The accommodative monetary policy has been transmitted to the financial markets, bringing interest rates to their lowest historical levels, thus helping reduce premium risks and facilitating the increase of loans in lek. The Bank of Albania assesses that the upwards trend of the economy will continue and will be sufficient to position it in equilibrium, returning inflation to target within 2018.