And while many of you will miss the heady days of the 1990s when growth rates were at 4 percent, the economic fundamentals indicate that these are fundamentally different times. But I’m optimistic for bankers like you because of your relationships with customers and the role you play in your communities. Please enjoy the conference. I look forward to joining you later for the luncheon. 2/3  BIS central bankers' speeches  3/3  BIS central bankers' speeches
Ardian Fullani: Latest economic and financial developments in Albania Speech by Mr Ardian Fullani, Governor of the Bank of Albania, at the press conference on the monetary policy decision-making of the Supervisory Council of the Bank of Albania, Tirana, 26 October 2010. * * * At today’s meeting of 26 October 2010, the Supervisory Council of the Bank of Albania analyzed and approved the Monetary Policy Report for the third quarter of 2010. After scrutinizing the latest economic and financial dynamics at home and the expected performance in the future, the Supervisory Council of the Bank of Albania decided to keep the key interest rate unchanged at 5.00%. In what follows, I will elaborate upon the analysis and the main conclusions today’s decisionmaking of monetary policy was based on. *** The performance of the Albanian economy during the third quarter of 2010 reinforced the main developments in the first half of the present year, featuring gradual recovery of aggregate demand, lower risk premiums and consolidation of macroeconomic stability. Broadly in line with our projections:   economic growth has accelerated (resurged) and its base seems to have broadened;    CPI inflation and expectations have been anchored close to the Bank of Albania’s target for inflation;    The external position of the Albanian economy has recovered and the exchange rate is more stable;    liquidity in the system has increased and the interest rates have generally been downward.