From: Exit News
The Bank of Albania has decided to base interest rates from 1% to 0.5%, due to the financial constraints that have followed the government’s measures to contain the spread of COVID-19.
With this measure, the Bank of Albania aims to lower interest rates for second level banks and citizens.
Governor Gent Sejko also announced two additional measures: unlimited liquidity to second level banks for as long as necessary, and pushing back citizens’ interest payments to second level banks for three months.
Sejko stressed that the coronavirus pandemic constitutes a hurdle for the economy and is expected to affect the country’s finances.
