Albania maintains rate at 2.0% as inflation picks up

    Albania's central bank maintained its key interest rate at 2.0 percent, but issued no immediate statement.
    The Bank of Albania, which cut its rate by 25 basis points in January following cuts of 75 basis points in 2014, said on Jan. 28 that it would maintain easy monetary conditions "some quarters ahead" to achieve its inflation target but also signaled that it was unlikely to reduce rates further.
    Albania's inflation rate rose to 1.3 percent in January from 0.7 percent in December.
    In January the central bank forecast annual inflation ranging from 1.2 to 3.8 percent in the four quarters ahead, with inflation returning to the bank's 3.0 percent target medium term, helped by economic growth and the closure of the negative output gap.

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