Governor Sejko Announces Decision Made by Supervisory Council
By E. Halili
Albanian Daily News
Published March 25, 2020
Governor of the Bank of Albania, Gent Sejko stated this Wednesday that the Supervisory Council decided to lower the key interest rate from 1% to 0.5%, to help smoothing the coronavirus consequences.
Sejko declared that it was decided to lower also the payday loan interest rate from 1.9% to 0.9%, as well as to keep the payday deposit interest rate unchanged at 0.1%.
"The Supervisory Council of the Bank of Albania decided during today's meeting to further facilitate the monetary policy stance and the monetary and financial conditions in the country. More specifically, the Supervisory Council decided:
- To lower the key interest rate from 1.0% to 0.5%;
- To lower the payday loan interest rate from 1.9% to 0.9%;
- To keep the payday deposit interest rate unchanged at 0.1%.