Quarterly Monetary Policy Report, 2019/II

Quarterly Monetary Policy Report, 2019/II
Author: Monetary Policy Departament
Printed on: 16.05.2019
Production date: 16.05.2019
Material category : Periodic Publications / Monetary Policy Report
The Albanian economy continues on a positive growth trajectory, which has enabled a fuller utilisation of production capacities and has sustained the build-up of domestic inflationary pressures. Bank of Albania’s forecasts for the future remain positive. These forecasts suggest further growth of economic activity and build-up of domestic inflationary pressures. However, the deterioration in the external environment has postponed our estimation for the return of the economy to equilibrium and of inflation to target. Downside risks dominate the forecast horizon. These developments confirm the adequacy of the current monetary policy stance, and emphasise the need for continuing the accommodative monetary policy stance in the medium-term horizon.