Interest rate hikes haven't had a harmful effect on economy, head of central bank says

17 Prill 2023, 12:13Economy TEMA

Although interest rate hikes, aimed at fighting inflation, are threatening economic recovery, the International Monetary Fund says the whole world is facing uncertainties.

Despite the fact that inflation is slowing, the pressure exerted by high prices remains present, while inequalities become deeper.

During the meetings he held with the IMF, World Bank, heads of central banks and finance ministers in Washington D.C., the governor of the Bank of Albania, Gent Sejko argued that the increase of the key interest rate is in line with the bank’s main goal and that is to fight inflation.

The decision to hike the interest rate was taken after cautious analyses were conducted in order not to harm the economy, the head of the Albanian central bank argued during the meetings he held in Washington D.C.

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