Quarterly Monetary Policy Report 2016/IV

The Albanian economy continued to improve over the last two quarters. Economic activity grew progressively. Inflation is gradually moving towards the target, while financial markets remain calm and financing costs remain at their lowest historical levels. These tendencies reflect the Bank of Albania's accommodative monetary policy stance, the improved confidence in the economy and eased shocks from the external environment. The new information analysed in this monetary policy report has resulted, overall, in line with our expectations. In this updated round of medium-term projections expected trajectories of economic growth and inflation have not changed. Against this backdrop, the Supervisory Council estimates that the current monetary policy stance is adequate to meet our objective.