Monetary Policy Document For 2008

The Bank of Albania, the monetary authority of the Republic of Albania, has the exclusive right to design, approve and implement the monetary policy. The monetary policy is designed and implemented in view of achieving the primary objective: achieving and maintaining price stability. Each year, the Bank of Albania publicly explains its objective and its definition in quantitative terms, and the instruments it will use in achieving the primary objective. This process increases the Bank of Albania transparency on monetary policy issues, as a prerequisite for attaining a high level of accountability in carrying out its mission as a central bank. At the same time, this document serves to the orientation of economic agents' public expectations towards inflation targeting, as key element in conducting monetary policy.