Albania central bank held rates last week at 3.0%. Inflation continued to slow, reaching 5.3% YoY in March, down from 6.8% YoY in February, and is expected to reach the target range in early 2024. However, inflationary expectations remain high. Given robust real wage increases, a continued cautious approach in policy this year is warranted. The press release lacked explicit guidance but remains generally constructive due to the positive and unchanged inflation outlook.