Albania cuts rate by a further 25 bps to 2.75%

    Albania's central bank cut its benchmark repurchase rate and the reserve repurchase rate by a further 25 basis points to 2.75 percent, continuing the easing cycle begun in October 2011.
    The Bank of Albania has now cut its main rates by 250 basis points from 5.25 percent since October 2011, including 100 points in 2013.
    The central bank's supervisory council did not issue any further comment in connection with the latest rate cut.
    Albania's inflation rate eased to 1.7 percent in January from 1.9 percent in December while its Gross Domestic Product contracted by an annual rate of 2.3 percent in the third quarter of 2013, down from an expansion of 1.1 percent in the second quarter.

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